(1) All the apartment owners in respect of a building, may withdraw a property from the provisions of this Act at a time by an instrument executed to the effect, upon which the property shall be deemed to be the owner in common by the apartment owners and the share of each such owner in the property shall be the percentage of undivided interest previously owned by „ such owner in the common area and facilities.
(2) Any encumbrance affecting any of the apartments shall be deemed to be transferred in accordance with the existing property to the percentage of the undivided interest of the apartment owner in the property as provided in this Act.
Withdrawal is no bar for re submission of property to the Act.
15. The withdrawal of the property from the provisions of this Act under sub-section (1) of section 14 shall in no way be a bar for subsequent re-submission of the property to the provisions of this Act.
Instruments of declaration etc.
compulsory registerable Bye-Laws
16. All instruments relating to the declaration or any amendment thereto referred to in sub-section (2) Of section 12 or the withdrawal of a property from the provisions of this Act as referred to in sub-section
(4) of section 5 shall be deemed to be instruments compulsorily registerable within the meaning of clause (b) of sub-section (1) of section 17 of the Registration Act, 1908.