Law chamber

 PAVANANJAYA

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 Apartments (Show More)

 Dakshina Kannada , Kodiyalbail

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Information

Overview

What are the various roles in the Association?

The Member: Every owner of the apartment complex is a member of the Association. In the case of joint ownership, the first person named in the title document is typically the member. No person who is not an owner of an apartment in the complex can be a member of the association.

The Associate Member: Any person, or persons, other than the owner, who is wholly residing, occupying or otherwise in lawful possession of any apartment in complex becomes an Associate member of the association. The Associate member pays maintenance charges to use common facilities, but does not have right to vote, unless authorized by the owner of the flat in writing.

The General Body (GB): All members of the association form the General Body -this is the supreme authority of the Association. The GB may alter, rescind, add, or amend the bye-laws, with the approval and consent of at least 13 members voting in general body. All members of the association are bound by the bye-laws. The decision of the GB is binding on all members.

The Management Committee (MC): A board of members elected by and from the GB, that represents the Association before all government and other official or non official bodies in all matters concerning the building and other rights and interests of the members. The MC is typically composed of a President, a Vice President, a Secretary, a Treasurer (together known as the Executive Committee) and 8 other members. The period of office of the elected members is typically 12 months. Such members are eligible for re-election for another term. The work of the MC is reviewed by the GB at the annual general body meeting or any other meeting.

Duties: Attend all General Body meetings, pay the dues decided by the General Body in a timely manner, abide by the Bye-Laws.

Rights: Vote in the elections- each member, irrespective of the apartment type & size has a single vote at Annual General Body Meeting or in any other official meeting, elections, of the association. Should a member have ownership of more than one apartment, the number of votes shall be in proportion to the number of apartments owned. The member has a right to authorize a proxy to vote in his absence.

Each member of the association has the right to inspect all records, books of accounts of the association with 3 days prior notice to the Management Committee.

What are the duties of the Management Committee?

    Organize, social, cultural and recreational facilities and amenities for the resident, supervise the same and maintain or organize the maintenance of all common areas and amenities thereof.

    Assign the responsibilities for carrying out day to day administration of building and affairs of association to the employees appointed for such purpose

    Represent the members of the Association, in the matter relating to the building or arising in relation to it, with the aim of protecting their rights and interest

    Encourage and promote religious, cultural and educational activities and promote charitable feelings amongst members.

    Join hand with any other association for common and mutual benefits.

    Open and maintain one or more bank Accounts of the association in the name of the association with any nationalized bank as decided by the committee.

    Ensure that the income monies received by the association are applied in promoting the objectives of the association and are not available for distribution on any account amongst the members.

    Keep in custody of all original documents connected to the land and building, licences issued by any authorities in relation of the said building or land

What are the duties and powers of the President, Secretary and Treasurer?
President

    The president presides over all the committee meetings and has general control over all the affairs of the association. He/she is the person who can sue with the consent of the general body or defend any legal action against the association on behalf of the association, after taking appropriate legal advice.

    All legal proceedings are instituted and continued or defended by the president. He/she signs all documents and papers and vakalats relating thereto in the name and on behalf of the association.

    The president enters into contracts approved or delegated by the committee.

    In the absence of the president, for any reason whatsoever, the committee may authorize the secretary or the treasurer to sign all such documents, papers etc for and on behalf of the association.

Secretary

The secretary is responsible for the executive administration of the association subject to the control of the committee.

Treasurer

    The treasure has custody of all properties of the association including the funds of the association.

    Heshe is empowered to operate the bank accounts of the association jointly, but not severally, with president, or secretary. Any such account operation is only for bonafide and authorized purpose of the association

    The treasurer maintains a petty cash account for meeting the immediate petty expenses.


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Name : PAVANANJAYA

Law Firm Name : Law chamber

Country : India

City : Dakshina Kannada

State : KARNATAKA

Practicing Since: 2006

About Your Firm : I am practicing since 2006 as a civil Advocate in Mangalore I am handling civil Matters M.C Cases , Consumer cases Registration work Revenue work, Legal Opinion etc

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Subject :  Registration of property
Question :  Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you

Answer by Law chamber :  Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok

Subject :  Registration of property
Question :  Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you

Answer by Law chamber :  Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok

Subject :  Registration of property
Question :  Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you

Answer by Law chamber :  Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok