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Section 14: Removal from provisions of this Act

The Karnataka Apartment Ownership Act, 1972State Act of Karnataka · Act 17 of 1973

(1) All the apartment owners may remove a property form the provisions of this Act by an instrument to that effect duly executed:

Provided that, the holders of all charges and other encumbrances affecting any of the apartments consent thereto or agree, in either case by instruments duly executed, that their charges or encumbrances be transferred to the percentage of the undivided interest of the apartment owner in the property as hereinafter provided .

(2) Upon the removal of the property from the provisions of this Act the property shall be deemed to be owned in common by the apartment owners. The undivided interest in the property owned in common which shall apportion to each apartment owner shall be the percentage of undivided interest previously owned by such owner in the common areas and facilities.

Where this provision sits

ActThe Karnataka Apartment Ownership Act, 1972
Section14
Marginal noteRemoval from provisions of this Act
JurisdictionState of Karnataka
StatusIn force as published by the source

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