Formation of apartment Owner Association
4 months ago
I want help how to formulate apartment owner Association as well as how to form a rules and regulations . Builder already done deed of appartment ( condominium)
A.Dear client,
An apartment owner’s association should be formed under the West Bengal Apartment Ownership Act, 1972. (Assuming that you are from West Bengal as each state have their own rules)
An apartment association can be formed by the volunteer association of the owners of the apartment.
It is mandatory for all the apartment owners to be present at the time of formation.
It is important that there should be 7 or more members to form an apartment association. The members should be above 18 years.
Have to make it clear and detailed by laws.
Each member pays an amount.
Then the members have to sign the documents in front of a registrar.
You can contact an advocate who deals with the property matters and registrations.
An apartment owner’s association should be formed under the West Bengal Apartment Ownership Act, 1972. (Assuming that you are from West Bengal as each state have their own rules)
An apartment association can be formed by the volunteer association of the owners of the apartment.
It is mandatory for all the apartment owners to be present at the time of formation.
It is important that there should be 7 or more members to form an apartment association. The members should be above 18 years.
Have to make it clear and detailed by laws.
Each member pays an amount.
Then the members have to sign the documents in front of a registrar.
You can contact an advocate who deals with the property matters and registrations.
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A.Dear Client,
The formation and registration of an Apartment Owners Association is governed by the state-specific Apartment Ownership Act and the Housing Deptt of the respective State Govt. is the competent authority as well as regulatory under the said Act. Accordingly, you need to visit the office of the competent authority for detailed information and procedures required to be complied with for registration of the Association under the relevant Act. Sometimes, a third-party agency registered under the Companies Act, 2013 is engaged for the purpose who undertakes complying with all the statutory procedures and formalities from formation to registration including the election of the first Board Managers of the New Association following the provision of Byelaws. Builders are required to facilitate the formation of the Apartment Owners Association and hand over the funds and assets to the governing body of the registered association.
The formation and registration of an Apartment Owners Association is governed by the state-specific Apartment Ownership Act and the Housing Deptt of the respective State Govt. is the competent authority as well as regulatory under the said Act. Accordingly, you need to visit the office of the competent authority for detailed information and procedures required to be complied with for registration of the Association under the relevant Act. Sometimes, a third-party agency registered under the Companies Act, 2013 is engaged for the purpose who undertakes complying with all the statutory procedures and formalities from formation to registration including the election of the first Board Managers of the New Association following the provision of Byelaws. Builders are required to facilitate the formation of the Apartment Owners Association and hand over the funds and assets to the governing body of the registered association.
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