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THE TAMIL NADU APARTMENT OWNERSHIP ACT, 1994 (Act No. VII of 1995) 6th April, 1995 An Act to provide for the ownership of an individual apartment in a building and to make such apartment heritable.

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A landlord is the sole owner of the apartment complex. They are usually the people in charge of the complex and can also be operating the property themselves.

But, it is considered that the average life of an apartment is 50-60 years while of a house it is 40 years. Independent home ages much slower than an apartment building, where the amenities and common services are shared among the society residents.

Who owns land in apartment? The apartment owners collectively own the land on which the apartment building stands. In a cooperative housing society, the land is owned by the society and the flat owners are shareholders of the society.

Buyers of apartment flats, as a matter of fact, do not buy a structure alone ─ they also buy a part of the land upon which that structure stands as a part of the deal. This ownership over land is known as a homebuyer's undivided share in the land (USL).

The following documents are required for registration: Society name and address. Duly signed proposal letter by the executive committee that is addressed to the Registrar of Societies. Associations memorandum. Proceedings of the first general body meeting. A standard fee.

ing to that,every flat member is given PROPORTIONAL rights of that land. When building is demolished, society members can sell that land or rebuild a building and bear costs proportionally.

The apartment owner right to selling Apart from renting or disposing of the property, an owner can also sell the property. And the owner is within the domain of exercisable rights if he wants to sell the property. However, they must clear the loan, if any, is associated with the property.

THE TAMIL NADU APARTMENT OWNERSHIP ACT, 1994. ACT NO. 7 OF 1995. An Act to provide for the ownership of an individual apartment in a building and to make such apartment heritable and transferable immovable property.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232