The Karnataka Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1972.
State Act of Karnataka · Act 16 of 197317 provisions
The enactment
| Long title | An Act to regulate in the State of Karnataka the promotion of the construction of, the sale and management and the transfer of flats on ownership basis. |
|---|---|
| Type | Act |
| Citation | Act 16 of 1973 |
| Year | 1973 |
| Jurisdiction | State of Karnataka |
| Status | In force as published by the source |
| Provisions published | 17 |
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- Section 1 Short title, extent and commencement
- Section 2 Definitions
- Section 3 General liabilities of promoter
- Section 4 Promoter before accepting advance payment or deposit to enter into agreement and agreement to be registered
- Section 5 Promoter to maintain separate account of sums taken as advance or deposit and to be trustee therefor and disburse them for purposes for which given
- Section 6 Responsibility for payment of outgoings till property is transferred
- Section 8 Refund of amount paid with interest for failure to give possession within specified time or further time allowed
- Section 9 No mortgage etc., to be created without consent of parties after execution of agreement for sale
- Section 10 Promoter to take steps for formation of co-operative society or company
- Section 11 Promoter to convey title, etc., and execute documents, according to agreement
- Section 12 General liabilities of a person who takes a flat
- Section 13 Manager not to cut off, with-hold, curtail or reduce essential supply or service
- Section 14 Offences by promoter
- Section 15 Offences by Companies
- Section 16 Power to make rules
- Section 17 Act to be in addition to Transfer of Property Act and to over-ride contract to the contrary
- Section 18 Act not to apply to the State Government, Housing Board, etc
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