Throwback on the Process of Registration of Condominium Properties

Abstract

Most Condominium Property Developers, taking advantage of weaknesses in the procedural law on the registration of Condominiums, have dragged the Condominium Dwellers into a well woven cob web. Where, hopelessly Dwellers end up litigating against the Developer for fraud. However, in practical terms such a litigation situation is rare due to the lack funds to institute them. Hence, the objective of the research is to analyse the loopholes of the existing domestic procedural law on the registration of Condominiums. Legal research methodology was followed. The source of library based secondary data review was referred to. Furthermore, a number of interview sessions were conducted for primary method of data collection. The mixed method was adhered to when establishing the recognized objectives. The identified stakeholders were Condominium Dwellers, Condominium Developers and the experts in the field of law related to Condominiums. It is evident that most Condominium Dwellers are not aware of their inherent rights. Hence, without this understanding on the statutory rights, they have faced with a number of issues that emanate from the registration process of Condominiums; specific reference to lack of a real transfer of title due to the conditional sale the parties enter into, the risk of not being able to be compensated from the insurance claims in case of a damage to the building and several other major adverse consequences. Hence, the intended research outcome is to introduce a policy paper with recommendations aiming to assist the law making commissions when amending the existing domestic procedural legal framework related to the registration of Condominiums. Establishing the fact that, Sri Lanka should encourage the living in Condominiums to cope up with the increasing migrants to urban areas, it could be concluded that it is a timely requirement to make the Condominium Dwellers a ware about their rights.