All you need to know about the apartment act
Published on 19th February 1971 in the Maharashtra Government Gazette, the Maharashtra Apartment Ownership Act has an aim to provide for the ownership of an apartment.
This apartment act only applies to real estate and helps to make it transferable and heritable property. In order to avail of the act, the owners of the real estate apartment should submit a declaration that is registered and executed.
Section 5 – ownership of apartments
Section 5 of the Apartment Act states that the owner of the real estate should be entitled to exclusive possession or ownership of their apartment with a declaration which shall be registered and executed according to the act of Section 2. The owner can execute the Deed of Apartment in the manner that is prescribed.
Section 6 – common areas and facilities
Section 6 of the Apartment Act states that the owner of the apartment is entitled to the facilities and common areas of the real estate. According to the section, the owner is restricted to carry out any division or partition of this common area. This is only possible if the property has been removed from the provisions of Section 6.
As per the declaration, the apartment owner is entitled to an undivided interest in the facilities and common area.
Section 6a – redevelopment of apartments
According to Section 6a of the Apartment Act, the work related to the redevelopment of a certain flat or apartment can be carried out if the majority of the owners have agreed to this. This means that if the majority of the owners residing in the building have agreed on this, the redevelopment can be carried out. However, if the building has completed 30 years and if the planning authority renders the building as dangerous or unfit to reside as it is likely to fall, then it is mandatory for the owners to commence the redevelopment.
What is the meaning of the apartment for the people associated with it?
According to the Apartment Act, the owner can form an association with other apartment owners and also gives complete ownership of the apartment to the real estate owner. The real estate owners living in the building are legally protected if disputes arise due to any conflict. In such cases, the disputes shall be governed by the civil jurisdiction of the law.
The Apartment Act of Maharashtra enables the real estate owners to be completely entitled to their apartments which have an equal share of the facilities and common area. The act also entrusts the apartment owners with the responsibility of ensuring the welfare of the citizens of the concerned building. The apartments are heritable and can be transferred.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
