Legal_Landscape

A commentary on law and current affairs

Sri Lanka & condominium properties

Before you put down your hard earned money for a luxury condominium, please check the following:

1) Has the building been “registered” as a ‘condominium property’? If its not, you are not dealing with a unit which can be bought or sold!
2) Has the building been issued with a ‘Certificate of Conformity’? This is the most important requirement. If a COC has not been issued, you may even put your life at risk. There can be defective wiring, plumbing, and other defects that remain hidden.
3) Have you consulted an engineer? Only the trained eye of an engineer will be able to detect anything that is not quite right, even though the building outwardly appears ok.
4) Have you consulted a lawyer regarding the title of your condominium property?

These are some of the basic issues you should check before moving into a building attracted by its location, beauty of the facade or the luxury of its internal fixtures and fittings. Its better to be safe than sorry later on!

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December 3, 2009 - Posted by | Land & Properties

5 Comments »

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