Here Are Some Legal Rights That You Should Be Aware Of If You Live In A Housing Society
Jun 03, 2017 Legal Guidance
The most common form of housing today is flats and apartments. Buyers prefer to buy to live in a housing society and do not want to invest their time in building a house from scratch. They are instead interested in paying for the already constructed properties. There are certain terms and conditions that every buyer should keep in mind.
As a member of the society, you are expected to maintain the decorum of the society. Taking part in the events held by the association of your society is a must as well. Failing to do the same, the governing body or the association can ask you to vacate the property.
You also have certain rights for you to enjoy:
1. You can go through the maintenance record:
Every year the society member pays a huge sum of money for the maintenance of the property. And as an individual, if you wish to check where the funds are going, you have the right to ask for it. After taking the permission from the higher association authority, you will be able to go through the fund maintenance records.
The society is legally bound to provide you with the last audited annual balance sheet. The member can also request for the profit and loss account. You can also request for the set of rules that the governing body has laid for themselves. The society is bound to provide you with the information you asked for within one month’s time.
2. You can report anything suspicious:
While going through the reports, if you find anything suspicious you can report it to the registrar after sharing the information with the rest of the society members. The registrar will then ask for the inquiry against the governing body. If the acquisitions you have made are found to be true, then the society may lose its registration or the governing body might be kicked out.
3. You can approach your society for money:
If you are facing some financial trouble and are holding back from going to the bank for the help, you can ask your housing co-operative to fund you and help with the financial issues. According to the co-operative society act, a society can lend money to all its members.
4. What to do if the society wants to expel you:
What can you do if the society decides to end your membership which might lead to you losing your ownership of the property? While the member must have to do something very adverse to get expelled from the society, the law gives you a place to fight this decision as well.
According to section 35 of Maharastra co-operative society act, 1916, the owner cannot be dismissed from the society with the approval of 3/4th of the members. Also, the case will not be approved until the owner is given the chance to present his case. The decision also needs the approval of the registrar.
As a member of the society, you are expected to maintain the decorum of the society. Taking part in the events held by the association of your society is a must as well. Failing to do the same, the governing body or the association can ask you to vacate the property.
You also have certain rights for you to enjoy:
1. You can go through the maintenance record:
Every year the society member pays a huge sum of money for the maintenance of the property. And as an individual, if you wish to check where the funds are going, you have the right to ask for it. After taking the permission from the higher association authority, you will be able to go through the fund maintenance records.
The society is legally bound to provide you with the last audited annual balance sheet. The member can also request for the profit and loss account. You can also request for the set of rules that the governing body has laid for themselves. The society is bound to provide you with the information you asked for within one month’s time.
2. You can report anything suspicious:
While going through the reports, if you find anything suspicious you can report it to the registrar after sharing the information with the rest of the society members. The registrar will then ask for the inquiry against the governing body. If the acquisitions you have made are found to be true, then the society may lose its registration or the governing body might be kicked out.
3. You can approach your society for money:
If you are facing some financial trouble and are holding back from going to the bank for the help, you can ask your housing co-operative to fund you and help with the financial issues. According to the co-operative society act, a society can lend money to all its members.
4. What to do if the society wants to expel you:
What can you do if the society decides to end your membership which might lead to you losing your ownership of the property? While the member must have to do something very adverse to get expelled from the society, the law gives you a place to fight this decision as well.
According to section 35 of Maharastra co-operative society act, 1916, the owner cannot be dismissed from the society with the approval of 3/4th of the members. Also, the case will not be approved until the owner is given the chance to present his case. The decision also needs the approval of the registrar.
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