CC Brown rules: In general, there are many issues involved, while sales of real estate. In the absence of an object that can not be legally binding even if the transfer agreement between the parties to the transaction. This means the sales process for a building in existence with the title and should move to a buyer for the payment of remuneration.

condominium property is assessed by including the statement that describes the plan of the residential units and condominium common elements of the building. The statement provides more information in the appropriate documents. The key principle of a condominium plan is the plan of subdivision.

finished building a semi condominium plan in respect of a partially constructed building provides temporary condominium plan. The registration of the declaration and the corresponding plan of subdivision divides the building into separate units in small apartments. Separated part of the building is the property for condominiums real estate transaction.

Thus, the title does not pass to a purchaser of a condominium, as long as the building was registered as classified by the Condominium Act No. 39 of 2003, the recognition of condominiums in the subdivision plan as individual properties resist.

A buyer of a condominium is recorded properly complete property purchase shared ownership and control of each unit and joint ownership of the common areas of the building. A sales contract is with the mainland, on the register, the building erected. The consequences of receiving,

1. If not lead to a transfer of ownership, but remains a conditional sale. Therefore, the potential buyer is not the ownership of the apartment, even if they paid the full sale price.

2 If the project fails, the recovery of payments will be harder for potential buyers that the land is recorded on the sale transaction as a financial guarantee.

3 If building is destroyed or damaged, the insurance proceeds to the owner of land or donors who have pledged the property and prospective purchasers of property have to be returned under contract a right to compensation.

4.If

not interested in occupying units in the building is not a legal person referred Corporation, which usually comes with the registration of the condominium property.

Most of the occupants of the flats have only a contract of sale, even after a year of occupation, which prevents them from ownership claims in the condominium have been paid for the millions of rupees as full payment of the purchase price. This statutory provision to ensure that the owner of the property to the property divided as a property register. should

Each condominium

people more aware of their rights and the purchase of a condominium.


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