June 1, 2016
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3:50Now PlayingExpert: Anshuman Jagtap, Associate Partner, Hariani & Co.
Q: My parents purchased a resale home in Goa. The building has just 2 floors, with a flat on each floor. Our flat is on the first floor. The building also has an open terrace. The sale deed doesn't mention anything about the terrace. Who has ownership of the terrace? In case there is any damage to the terrace; who will bear its costs?
Answer: The terrace is the common area hence it belongs to the organisation of all the flat purchasers. In your case common ownership will be distributed proportionally among the three residents. You have to decide among yourselves and make a managing body for the maintenance of the terrace.
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