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Author Topic: Apartment Deed with 4 members?  (Read 529 times)

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Offline maddy__117

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Apartment Deed with 4 members?
« on: April 25, 2017, 05:35:04 AM »
Hello,

I am bit confused and in dilemma on how to go about below issues. Please help if you can.

Situation: I have bought a Row House in a building which has total 4 Row Houses and some Common Space (Parking etc). Agreement to Sale is done. Occupation letter and Possession letter is issued. Need to understand next steps in order to complete transaction.

Queries:
1. Which deed will be in this case? Builder has asked for Apartment Deed. Not sure if it can be done.
2. How I can ensure that Land as well as Construction is transferred on 4 Owner's name?
3. Few people told me that In Apartment Deed, Open space is owned by Developer. Is it true? as far as I know every owner gets equal share of it. please suggest.
4. I have requested for Declaration as suggested by a lawyer but still not getting clarity of correct and complete transaction as I want to avoid issues in Future.

Regards
Madhur

Offline advmisthi

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Re: Apartment Deed with 4 members?
« Reply #1 on: April 25, 2017, 05:37:38 PM »
Yes first get the declaration everything will be clear.
Adv.Misthi Mukherjee
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Offline maddy__117

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Re: Apartment Deed with 4 members?
« Reply #2 on: April 25, 2017, 11:14:41 PM »
Okay. Thanks for advice. I have asked for declaration. Will update as soon as I get.

Offline maddy__117

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Re: Apartment Deed with 4 members?
« Reply #3 on: May 02, 2017, 01:53:26 AM »
Hello, I got the declaration. It mentions about voting percentage and UDS in same proportion which 12.5 % for each owner. Total comes to 50 % only.

Nothing in specific mentioned about and land ownership.

 

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