To begin with, property or apartment ownership comes with multiple responsibilities on the part of the owner whose primary objective is property protection and no unfair use or exploitation.
However, many apartment or property holders in India are not really aware of their rights. Therefore, it is important that they know what their legal property rights are. In addition, they must be aware of the fact that they have to bear the cost of common expenses.
People mainly discuss the rights and duties of tenants in India but knowing the rights of the owner is equally important, although it may seem insignificant.
The government of India passed an act named the Rent Control Act in 1948 that speaks of the protection of the rights of owners. So, in this article, we will provide you with detailed insights on a few basic rights of an apartment owner.
Well, before we enlighten you with the basic rights of an apartment owner, let’s just briefly understand what ownership is.
So, to keep it simple, ownership of a property means the right to use, possess, and give away the property to potential tenants for rent legally.
Every apartment owner should know their rights and duties to exercise their power and duties within the jurisdiction of the law. So, let us now discuss the six basic rights of an apartment owner.
The first and foremost thing an apartment owner should be aware of is their right to gain the property back temporarily. An owner enjoys the title of the property he or she holds. Simply put, holding a title document for a property is immensely important, and whoever holds the title owns or possesses the title document of the apartment.
If any buyer has cleared all the payments, then they can hold the property title document. However, there are a lot of times when homebuyers fail to clear the payment or have to go to court. In that case, the title possession stays with the owner.
Another important right of the owner that you must be aware of is the right to exclusion. The right to exclusion simply states that the owner can control who gets to enter the property. In other words, this right is similar to the privacy protector of the owner.
With the help of this right, an owner can control trespassing. Owners are entitled to allow only the law enforcement officers if they have a warranty. Apart from that, they are not obliged to permit anyone who wants to enter the property.
The owner can use their property however they please but there are some obligations or restrictions that they must follow. As the law also binds the owner, he or she must avoid these restrictions.
For instance, the owner cannot frequently party, play loud music, or do something which creates problems for the neighbours. They must avoid this kind of behaviour as owners are required to maintain a proper balance between their rights and others’ rights as well.
As the apartment owner falls under the associations, state and local law restrictions also apply to them, and they must obey those rights to avoid problems.
Another fundamental right of the owner is that they can rent out their properties to the tenants in order to derive more income. They can also rent out their property to a business. However, the owner must have a written agreement or legal papers while renting out to avoid issues in the future. Apart from that, they can also increase the property’s rent as and when necessary, as it is within their rights.
Apart from renting or disposing of the property, an owner can also sell the property. And the owner is within the domain of exercisable rights if he wants to sell the property.
However, they must clear the loan, if any, is associated with the property. Without clearing out the due payments, they cannot sell the property.
Another important right of the owner is that they can evict or expel any tenants if they cause any issues. The Rent Control Act has made it difficult for the apartment owner to evict any tenants staying in the apartment or property for years.
However, with the Draft Model Tenancy Act of 2015, it has become easier for owners to handle their property and evict the tenants if needed.
Apart from all these, an owner must insure the property with title insurance as it aids them in protecting the property during renting or selling. The owner must know all these fundamental rights for them to utilize their property correctly and avoid issues in the future.
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