While registering your apartment under the Karnataka Apartment Owners Act, you will need to be aware of the contents of the deeds and declarations involved, as this is necessary.
Not many people these days take the effort to know what works in the legal section of obtaining an apartment while registering their building under the Karnataka Apartment Owners Act, and this is not a very good sign. Having good knowledge on the legal proceedings can help you immensely in communicating effectively to your lawyer.
Learning legal information is not rocket science, as you will find out through the course of this post, as very basic facts and figures are involved.
The content that an apartment’s deed and declaration will hold has been given below.
Karnataka Apartment Owners Act Details – Declaration Contents
- The declaration will hold many particulars, and the most important of these is the land description. The nature of the land involved will be given in a detailed manner (that is, whether the land falls leasehold or freehold categories).
- A detailed description of the building will follow, stating the number of basements and storeys in the particular building. The number of apartments involved will also be mentioned, and the basic materials used to build the structure will be specified.
- Details will also extensively include the apartment number of each apartment that falls under the span of the building, the number of rooms present in each apartment and the dimensions of the same, and also the common areas that the apartment has access to. This is used for identification purposes.
- The value of each apartment is also mentioned in the Declaration, and the overall value of the property and the percentage of interest (undivided) that each resident will bear for access to the common areas in the apartment complex will also be mentioned.
- A set of bye laws will also be attached with the Declaration during registration. In simple terms, these bye laws are more targeted at apartment associations and they will involve procedures for appointing people into the upper tier of the apartment association.
- The Declaration will also contain the name of the person that the entire registration process in carried out under. All personal details including the residential address, the contact details and occupation will be specified.
These are the basic details that will be included in a Declaration, under the Karnataka Apartment Owners Act.
Karnataka Apartment Owners Act Details – Deed Contents
- The Deeds will contain more or less the same content as given in a declaration, including a description of the land that the apartment complex or building is set in.
- The Deeds will also contain information that can be used to establish the identity of the particular apartment, including the apartment number as stated in the declaration.
- The Deeds will contain the percentage of interest (undivided) pertaining to the common areas in the apartment.
These are the basic details involved in a Deed under the Karnataka Apartment Owners Act. Any real estate lawyer will be able to smoothly take you through the procedures involved without any issues.
This article aims at collating and providing information for benefit of ApnaComplex customers and blog readers. While ApnaComplex has taken every care to ensure the information is accurate, we suggest to please use it only as a guidance for further discussion and action with help of relevant professionals. If you need professional advise on this topic and any other property related matters, please send your request through our contact us form. You may post your questions/inputs in the Comments section below and we will try and get them answered through relevant subject matter experts.