APARTMENT LIVING - UDS Transfers to Associations: Dispelling Myths, Embracing Legal Realities.
Setting the Stage The stipulation governing the transfer of undivided proportionate title to the owner's association [i] under the real estate law has consistently been a subject of intense debate. The recent Government Order [ii] sanctioning the payment of property tax in the individual names of owners has further intensified the ongoing discourse. This post aims to discuss the myth and reality behind contentious debates. To understand the nuances, real-world examples may often help highlight complexities than theoretical explanations. Hence, a case study method is attempted here. Read the case under the following subheading. A real estate scheme This residential apartment complex, comprising several residential blocks, is developed on 552.59 cents of land. The individual blocks are named for illustrative purposes as (1) Block A, (2) Block B, (3) Block C, (4) Block D, and (5) Block E. Each block is situated in approximately 20 cents....