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Is it must to pay the corpus fund by Second owner as mentioned in the by law of association
Q: Is it must to pay the corpus fund by Second owner as mentioned in the by law of association

Latest Answer: You can speak to your owners' association regarding the corpus fund. Furthermore you can take legal help if t is still not clear. Please go through the following link for a clear view on Corpus fund http://www.commonfloor.com/articles/handover-from-builder-and-corpus-fund-for-apartment-maintenance-1107.html

Resale apartment in Chennai
Q: I purchased a resale apartment house in Chennai and registration also completed but to change the name of the owner in the property tax municipality is asking to attach the under sewage connection deposit receipt but the ex owners saying approach association. Association is interested in collecting the corporate fund instead of proving the under sewage connection deposit receipt but we informed association to provide the receipt to pay the corporate fund. pl. suggest the right way to resolve the issue

Latest Answer: Thanks for your reply Mr.Samuel Ex owner said i have no responsibility to produce this receipt either you pay from your pocket or follow with association. Now association came up with some sort of receipt which paid by the builder during the year of 2003 in the name of some body for the amount of Rs.2.67 lakhs but the apartment construction has been completed by 2005 . Which is not prorate amount as advice by municipality since the partment has more than 70 house.Now over association is pressurizing to pay the corpus fund and threatening us by disconnecting the facility after the EC meeting. Pl. suggest to resolve the issue

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