Act Info:Preamble 1 - KARNATAKA OWNERSHIP FLATS (REGULATION OF THE PROMOTION OF CONSTRUCTION, SALE, MANAGEMENT AND TRANSFER) ACT, 1972
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 7 - After plans and specifications are disclosed no alterations or additions without consent of persons who have agreed to take the flats; and defects noticed within a year to be rectified
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