One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
Condominium property law part 4 - Revisions and Cessation of a condominium ...Ajithaa Edirimane
One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
A lecture conducted for lawyers attending the "Post Attorney Diploma in Conveyancing and Real Property Rights" of the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
These slides describe the law that applies to Last Wills and how a Last Will can be created. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
Condominium property law part 3 - Management Corporations and administrationAjithaa Edirimane
One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
These slides describe the main provisions of the Registration of Documents Ordinance of Sri Lanka and what should be observed by Notaries when submitting Deeds and Notices for registration. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
The main provisions of the Prevention Frauds Ordinance. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
All You Need to Know About Maharashtra Ownership Flat Act 1963 (MOFA 1963)Square Yards
According to Circular Dated 9th July 2016, Issued By The Maharashtra State Police Department, The Govt Has Implemented The Maharashtra Ownership Flat Act-1963 ( MOFA) & the MRTP Act 1966
Condominium property law part 4 - Revisions and Cessation of a condominium ...Ajithaa Edirimane
One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
A lecture conducted for lawyers attending the "Post Attorney Diploma in Conveyancing and Real Property Rights" of the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
These slides describe the law that applies to Last Wills and how a Last Will can be created. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
Condominium property law part 3 - Management Corporations and administrationAjithaa Edirimane
One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
These slides describe the main provisions of the Registration of Documents Ordinance of Sri Lanka and what should be observed by Notaries when submitting Deeds and Notices for registration. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
The main provisions of the Prevention Frauds Ordinance. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
All You Need to Know About Maharashtra Ownership Flat Act 1963 (MOFA 1963)Square Yards
According to Circular Dated 9th July 2016, Issued By The Maharashtra State Police Department, The Govt Has Implemented The Maharashtra Ownership Flat Act-1963 ( MOFA) & the MRTP Act 1966
Difference between lease and license: Everything you need to knowMyAdvo.in
A brief view of Lease and License. This PPT talks about the difference between Lease and License on the basis of agreement, interest, transferability, etc.
These slides describe what is meant by "Prescriptive Rights" and how properties are acquired through Prescription. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
The presentation deals with different aspects of easements comprising definition, essential elements, classification, modes of acquisition, grant, prescription, customary easement, operation of law, etc.
The real estate sector of India is perhaps one of the fastest-growing sectors, creating several opportunities for every stakeholder and professionals. The country has witnessed the successfull impact of rera implementation. The efficiency of RERA revolves around the prominent role plays by each
professional whose service is of utmost importance. The article brings you such a goldmine of opportunities available for professionals, stakeholders, who can utilize their expertise and contribute to the growing economy of the world.
Difference between lease and license: Everything you need to knowMyAdvo.in
A brief view of Lease and License. This PPT talks about the difference between Lease and License on the basis of agreement, interest, transferability, etc.
These slides describe what is meant by "Prescriptive Rights" and how properties are acquired through Prescription. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
The presentation deals with different aspects of easements comprising definition, essential elements, classification, modes of acquisition, grant, prescription, customary easement, operation of law, etc.
The real estate sector of India is perhaps one of the fastest-growing sectors, creating several opportunities for every stakeholder and professionals. The country has witnessed the successfull impact of rera implementation. The efficiency of RERA revolves around the prominent role plays by each
professional whose service is of utmost importance. The article brings you such a goldmine of opportunities available for professionals, stakeholders, who can utilize their expertise and contribute to the growing economy of the world.
English prestige - presentation on real estate (regulation and development)English Prestige
Investing in real estate properties has become one of the most preferred ways of utilizing ones hard earned money these days. The Real Estate Developers/Builders all come up with the most lucrative deals in order to find parties who would like to invest in the concerned venture.
Get a 3.5 BHK with Utility & Servant Room for just Rs. 68 Lakhs in North Bengaluru.
A Personal Room for everyone important in your Life, including yourself.
Final Report (TCP/RLA/0069)
Development of Standards for the Construction and Inspection of Fishing Vessels
Final Report TCP/RLA/0069 http://www.slideshare.net/safetyforfishermen/final-report-of-project-57610513
Annex I http://www.slideshare.net/safetyforfishermen/annex-i-57610511
Annex II http://www.slideshare.net/safetyforfishermen/annex-ii-57610508
Annex III http://www.slideshare.net/safetyforfishermen/annex-iii
Annex IV http://www.slideshare.net/safetyforfishermen/annex-iv-57610500
Annex V http://www.slideshare.net/safetyforfishermen/annex-v-57610497
Annex VI http://www.slideshare.net/safetyforfishermen/annex-vi-57610495
Schedule 1 http://www.slideshare.net/safetyforfishermen/schedule-1-57610492
Schedule 2 http://www.slideshare.net/safetyforfishermen/schedule-2-57610486
Schedule 3 http://www.slideshare.net/safetyforfishermen/schedule-3-57610481
Schedule 4 http://www.slideshare.net/safetyforfishermen/schedule-4-57610477
Schedule 5 http://www.slideshare.net/safetyforfishermen/schedule-5-57610474
Schedule 6 http://www.slideshare.net/safetyforfishermen/schedule-6-57610470
Schedule 7 http://www.slideshare.net/safetyforfishermen/schedule-7-57610465
Schedule 8 http://www.slideshare.net/safetyforfishermen/schedule-8-57610456
Schedule 9 http://www.slideshare.net/safetyforfishermen/schedule-9-57610450
Schedule 10 http://www.slideshare.net/safetyforfishermen/schedule-10-57610439
Schedule 11 http://www.slideshare.net/safetyforfishermen/schedule-11-57610431
Annex VII http://www.slideshare.net/safetyforfishermen/annex-vii-57610416
Annex VIII http://www.slideshare.net/safetyforfishermen/annex-viii-57610410
Annex IX http://www.slideshare.net/safetyforfishermen/annex-ix-57610400
Annex X http://www.slideshare.net/safetyforfishermen/annex-x-57610393
Annex XI http://www.slideshare.net/safetyforfishermen/annex-xi-57610383
Similar to Condominium property law part 2 - Creation of a condominium property (20)
These slides describe when a Deed can be rectified and the steps that should be followed for such rectification. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe the law that applies to leases and tenancies. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe the law applicable to sale of immovable property and the steps that should be followed in such a transaction. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe who can enter contracts and limitations to such rights to contract. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe the effect of Servitudes on immovable property and what are positive and negative Servitudes. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe the legal status of co-ownership. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe the law relating to the payment of stamp duty and when such payment should be made in respect of various instruments. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
These slides describe what is meant by a Power of Attorney and the manner in which a Principal can delegate authority to a Power of Attorney holder. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
This describes the functions of a Notary. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
This describes what is meant by an Affidavit and the manner of taking an Oath. This is from a lecture in Conveyancing conducted for the final year students of the Sri Lanka Law College in 2007
Condominium property law part 3(b) - Financial IssuesAjithaa Edirimane
One of the series of lectures of the Post Attorney Diploma in Conveyancing and Real Property Rights conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 - 2020)
A seminar to impart knowledge on legal, technical and financial issues relating to condominium properties in Sri Lanka.
Date - Saturday, 21 June 2014 commencing 9am.
Venue - Taj Samudra, Colombo 1, Sri Lanka
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptxOmGod1
Precedent, or stare decisis, is a cornerstone of common law systems where past judicial decisions guide future cases, ensuring consistency and predictability in the legal system. Binding precedents from higher courts must be followed by lower courts, while persuasive precedents may influence but are not obligatory. This principle promotes fairness and efficiency, allowing for the evolution of the law as higher courts can overrule outdated decisions. Despite criticisms of rigidity and complexity, precedent ensures similar cases are treated alike, balancing stability with flexibility in judicial decision-making.
Introducing New Government Regulation on Toll Road.pdfAHRP Law Firm
For nearly two decades, Government Regulation Number 15 of 2005 on Toll Roads ("GR No. 15/2005") has served as the cornerstone of toll road legislation. However, with the emergence of various new developments and legal requirements, the Government has enacted Government Regulation Number 23 of 2024 on Toll Roads to replace GR No. 15/2005. This new regulation introduces several provisions impacting toll business entities and toll road users. Find out more out insights about this topic in our Legal Brief publication.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
ASHWINI KUMAR UPADHYAY v/s Union of India.pptxshweeta209
transfer of the P.I.L filed by lawyer Ashwini Kumar Upadhyay in Delhi High Court to Supreme Court.
on the issue of UNIFORM MARRIAGE AGE of men and women.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptxOmGod1
Victims of crime have a range of rights designed to ensure their protection, support, and participation in the justice system. These rights include the right to be treated with dignity and respect, the right to be informed about the progress of their case, and the right to be heard during legal proceedings. Victims are entitled to protection from intimidation and harm, access to support services such as counseling and medical care, and the right to restitution from the offender. Additionally, many jurisdictions provide victims with the right to participate in parole hearings and the right to privacy to protect their personal information from public disclosure. These rights aim to acknowledge the impact of crime on victims and to provide them with the necessary resources and involvement in the judicial process.
A "File Trademark" is a legal term referring to the registration of a unique symbol, logo, or name used to identify and distinguish products or services. This process provides legal protection, granting exclusive rights to the trademark owner, and helps prevent unauthorized use by competitors.
Visit Now: https://www.tumblr.com/trademark-quick/751620857551634432/ensure-legal-protection-file-your-trademark-with?source=share
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
Condominium property law part 2 - Creation of a condominium property
1. CONDOMINIUM PROPERTY LAW
For the Post Attorney Diploma in “Conveyancing and Real Property Rights”
conducted by the Institute of Advanced Legal Studies affiliated to the Sri Lanka Law College (2019 – 2020)
- Presented by Ajithaa Edirimane, LLB (Colombo) MLB (Hamburg)
Attorney-at-Law & Notary Public
No part of this slide presentation shall be
extracted, copied or used without Ajithaa
Edirimane’s permission
2. 05/10/2019 (11.15 – 1.15) CREATION OF A
CONDOMINIUM PROPERTY
11.15 – 12. 15
Investigating Title
Developer’s Role and problems faced by Developers
Approval process and UDA Regulations in brief
12.15 – 1.15
Deed of Declaration
Registration at the Land Registry and Registration at the Title Registry
Effects of Registration
Sales Agreements – restrictive clauses
Questions
3. IDENTIFYING A BLOCK OF LAND
METHODS OF ACQUISTION OF LAND FOR
PROPERTY DEVELOPMENT
Use own funds
This Photo by Unknown Author is licensed under CC
BY-SA-NC
This Photo by Unknown Author is licensed under CC BY
Use
borrowed
funds
Enter into a Joint
Venture with the
Owner of the Land
Bank checks title 1.Joint Venture Agreement, OR
2. Incorporation of company with owner
and developer as shareholders
Purchaser
checks title
Developer’s role and legal issues
4. INVESTIGATING TITLE – LAND PURCHASE
Lawyer/ Notary representing the Developer attends to-
Checking the ‘title’ and ‘plan’ - to confirm ownership and boundary
checking for encumbrances and restrictions on the property
making sure property rates, electricity and water consumption charges are paid to
the appropriate party
Checking environmental risks – from coastal, river or surface water flooding
arranging an assessment for stamp duty payment, obtaining an opinion and the
payment of stamp duty
liaising with financiers to secure funding, if and when necessary.
preparation of legal documents
arranging and attending to final settlement and execution of deeds.
5. Identify land
- Type of project
- Suitable for the
Zone
-Apply for PPC
(Sec 8J UDA Law )
Collect relevant
documents
- From Seller
- From local
authority
Purchase
land
- Deed of
Transfer
Application for
Building Permit to
Local Authority
- Submit Building
Plan
- Submit all
clearances and
certificates
SELECTING CONTRACTOR
(CIDA grading CS2, C1, C2)
7. S
1. Ownership Certificate / Confirmation, boundary confirmation obtained within the last 03 months.
2. Clearance regarding the underground storm water and sewer system obtained within the last 02
years from Water Supply and Drainage Section of the local authority
3. Clearance regarding the underground water lines from Water Supply and Drainage Board
4. Street line & Building line certificate issued after 2009.
5. Clearance for low lands, canals & drainage reservations.
6. Coast Conservation Clearance from Coast Conservation Authority – if the site is within 300 meters
of the vegetation line of a coastal zone
7. Civil Aviation Authority Clearance from Civil Aviation Authority
8. Central Environmental Authority Clearance from Central Environmental Authority
9. Condominium Management Authority Clearance.
10. Clearance for historic and architecturally valuable buildings
11. National Building Research Organization Clearance if within a hazard zone as identified by NBRO
SOME OF THE CLEARANCES AND CERTIFICATES REQUESTED
8. A letter of Indemnity from the owner / developer indemnifying the
local authority, against any damages to adjacent structures
movable and immovable property due to the proposed
construction.
Letter of undertaking from the owner / developer regarding the
submission of an Insurance Policy one week prior to
commencement of construction work.
A separate parking diagram if the number of parking exceeds 03
parking bays.
Traffic Impact Assessment (TIA) report.
In the case of installation of air-conditioning, mechanical
ventilation or fire protection system in a building, a certificate from
a qualified person.
An affidavit from the applicant owner certifying that all the
documents submitted by the owner / developer along with the
application are true and accurate.
9. APPLICATION FOR CERTIFICATE OF CONFORMITY
(COC)
When the building has been completed an application is made
to the relevant authority for the Certificate of Conformity (COC)
with the following documents –
1. Copy of the Development Permit
2. Copy of the Approved Building Plan
3. Copy of Approved Survey Plan
4. Recommendations and Certificates obtained from
various authorities as required under the PPC
5. Letters from professionals (i.e. Architect, Civil / Structural
Engineer, etc)
6. Ceylon Electricity Board Certificate
7. National Water Supply & Drainage Board Certificate
COC GIVEN WHEN
COMPLETED IN
ACCORDANCE WITH
THE APPROVED
BUILDING PLAN
COC IS NECESSARY FOR OCCUPATION OF
THE BUILDING – CCDP 2008
REGULATION 21
(FAILURE IS AN OFFENCE
UNDER SEC. 8K OF THE UDA LAW
PUBLIC BUILDING CERTIFICATE IF MORE THAN 200 OCCUPANTS
11. REGISTRATION AND CREATION OF
CONDOMINIUMS
SEC. 5 OF ACT NO. 39 0F 2003
INCORPORATING SEC. 3A (REGISTRATION OF A CONDOMINIUM PLAN) SEC 3B
(REGISTRATION OF A PROVISIONAL CONDOMINIUM PLAN) AND SEC 3C
(REGISTRATION OF A SEMI CONDOMINIUM PLAN)
Application filed under the signature of the Owner of the
land -
Deed of Declaration in triplicate registered under the Registration of
Title Act or Registration of Documents Ordinance
The Provisional / Semi or Condominium Plan, as appropriate with
description of unit and share values assigned to each unit.
Originals of
all
documents
need to be
submitted in
one set
12. SOME OF THE DOCUMENTS REQUIRED TO REGISTER A
CONDOMINIUM PROPERTY
The Building Plan approved by the Planning Authority
Condominium Plan (Provisional, Semi or completed)
The Certificate of Title relating to the land (if the RTA applies to the land in question)
The written consent of everyone who has an interest on the land (i.e. mortgagee,
lessee, holder of a lien over the land, etc.
If there is a mortgage over the land, details of the mortgage, name of the finance
institution, amount secured against each parcel / unit depicted in the Provisional /
Semi / Condominium Plan
CMA Certificate issued by the Condominium Management Authority certifying that
provision made for common amenities is satisfactory and provision made for
management of Common Elements is satisfactory.
A financial report confirming the cost of construction verified by a qualified quantity
surveyor
Implementation plan of the construction of the building
In the case of Semi / completed Condominium properties the Certificate of
Conformity by the relevant authority
In the case of Semi / completed Condominium properties a certificate from a
qualified surveyor confirming that the completed building corresponds with the
approved plan
In the case of Semi / completed Condominium properties the reference No. of the
registered Provisional Condominium Property
Declaration by the Applicant
13. DEED OF DECLARATION
NO:
Declaration under section 5 (1) (ii) of the Apartment Ownership Law No. 11 of 1973 as amended by Apartment Ownership (Amendment) Act
no. 45 of 1982 and Act No. 39 of 2003
We,…………………………..Limited of ………………………in the Democratic Socialist Republic of Sri Lanka , the owner of the Condominium
Property herein described hereby declare under Section 5 (1) (ii) of the Apartment Ownership Law No. 11 of 1973 as amended by Apartment
Ownership Act No. 45 of 1982 and Act No. 39 of 2003 (hereinafter called “the Apartment Ownership Law”) as follows:-
SITUATION OF LAND:
An allotment of land marked Lot…..of the land called …………………situated along………..Mawatha in ………………Municipal Council in the
District of ……………….., in the village of ………. …………………together with a ………………. storey building thereon bounded on the
North…………………………………East………………………South……………………………………….West………………containing in extent
……………………according to Condominium Plan No………………………. dated…………….made by…………………………. Licensed
Surveyor and Leveler.
NAME & ADDRESS OF OWNER OF CONDOMINIUM PROPERTY:
CLAIM TO TITLE :
We, ……………………………………. Limited claim title as the absolute owner of the property (i.e the land together with everything
standing thereon as described herein) under and by virtue of Deed of Transfer……………………………….dated………………………attested
by ………………Notary Public and registered at the ……………….. Land Registry under title Division/Volume/Folio ………………….
PRIOR REGISTRATION :
The property is registered at the …………………. Land Registry in …………………….. and the encumbrances attached to the same (i.e.
Mortgages and Leases) in connected Volumes/folios under provisions of the Registration of Documents Ordinance.
ENCUMBRANCES:
The property is subject to the following Mortgages and Leases as at the date of this instrument:
14. CONDOMINIUM PLAN
The Condominium Plan shall comprise –
(i) A survey plan or plans which shall be prepared and drawn by a licensed surveyor
(a) delineate the external surface boundaries and boundary marks of the proposed Condominium Property
(b) specify the division, volume and folio in which the Condominium Property is registered and the surveyed area
thereof;
(c) include a vertical section of each subdivided building showing
(i). the floors and ceilings of each story; and
(ii). the height of each storey
(d) include a description, as well as the vertical section and dimensions, of each building or parts thereof
proposed to be erected within the Condominium Property
(e) delineate, each proposed parcel and define the boundaries thereof by reference to floors and walls showing
the horizontal dimensions.
(f) show the approximate floor area of each parcel;
(g) define the common elements of the Condominium Property;
(h) bear an endorsement by the person preparing it to the effect that the building shown in the
Condominium Plan is within the external horizontal boundaries of the Condominium property; and
(i) have attached to it a certificate of a qualified architect or a qualified civil or structural engineer to the
effect that the parcels shown therein are the same as those existing on the Condominium Property;
21. - divided into units as described in the provisional condominium plan and along with the
percentage of common elements
- held by the owner of a unit as an absolute owner of the same.
- Mortgages registered on the land before and during construction of the building will
extend to each and every unit thus registered.
- individual agreements of sale executed with prospective purchasers will become
encumbrances on the absolute ownership of the provisional condominium property.
- The owner (of land / developer) will not have a right to sell, lease, rent or dispose
the land parcel other than by way of mortgage until the property is registered as a
semi or completed condominium property, subject to the right of a mortgagee of
the land to sell and recover its dues.
Effect of registration of the Provisional Condominium Plan
(Sec. 14 of Act No. 39 of 2003 added as Sec.9A of the
principle act)
Does this
prevent lending
institutions from
registering
Tripartite
Agreements on
Provisional
units?
22. EFFECT OF REGISTRATION OF THE CONDOMINIUM
OR SEMI CONDOMINIUM PLAN (SEC. 13 OF ACT NO. 39
OF 2003 AMENDS SEC. 9 OF THE PRINCIPLE ACT)
Condominium or Semi Condominium Property will become divided into the
condominium units as described in the respective plan of subdivision.
Mortgages registered on the land before and during construction of the building will
extend to each and every unit thus registered.
The common elements of the property will be vested with each unit owner based on
the share value assigned to the unit, as tenants in common.
The owner of each condominium unit along with the percentage of common
elements, will become the absolute owner of the same and will have the right to
sell, lease, mortgage or dispose such unit as freehold property in the same
manner as disposing land subject to any encumbrances registered on the property.
23. Safeguarding rights of a prospective purchaser of a unit in a
building under construction (not registered):
Addressing potential risks–
Check title of land.
Check Street Line & Building Line Certificate, Ownership Certificate,
Check the reputation of the Contractor and Developer. (In Sri Lanka there is no statutory
requirement for the Developer to have a license unlike in Singapore).
Is there adequate insurance cover? (i.e. Title Insurance for defective owner’s title, Insurance
cover for other potential risks)
Ensure Building Permit has been obtained (Building Plan is approved). (e.g. in the District of
Colombo, in accordance with City of Colombo Development Plan, prepared under the Planning
and Building Regulations gazette 1597/8 of 2009 issued in term of Section 21 of Urban
Development Authority Law.).–
Has allocation been made for the requisite no. of car parking slots corresponding to the units?
24. Check whether there are any encumbrances not registered. If uncertain, obtain Affidavit
from Owner
Check the terms and conditions of any Agreement pursuant to which the Developer has
agreed to develop the property. (i.e. Owner of land imposing condition that a certain
percentage of sale price of all units to be paid to Owner to agree to execute Deeds of
Transfer)
Check whether the Access Road permitted to be used for the property has no
restrictions of use (not a private road)
Check whether the Developer has retained Common Areas for his private use.