Maharashtra Apartment Own Act

About Maharashtra Apartment Own Act

Good App For Study And Read Maharashtra Apartment Ownership Act, 1970

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The "Maharashtra Apartment Ownership Act, 1970" was published in the Maharashtra Government Gazette on 19th February 1971. It aims to provide for the ownership of an individual apartment and to make it a heritable and transferable property.

The act authorizes apartment owners to complete ownership of their apartment, which includes an equal share of the undivided common area and facilities. This entrusts the apartment owners with the responsibility of ensuring the welfare of the citizens of the building and promoting their rights.

The act also makes the apartment transferable and heritable, enabling apartment owners to secure a mortgage on the apartment. Under the act, apartment owners become the independent owner of their flat, i.e., the complete physical structure, besides having all the rights of an owner.

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The Maharashtra Apartment Ownership Act, 1970 an Act to provide for the ownership of an individual apartment in a building and to make such apartment heritable and transferable property.

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