Section 16
Insurance.
The Delhi Apartment Ownership Act, 1986
About this Act
An Act to provide for the ownership of an individual apartment in a multi-storeyed building and of an undivided interest in the common areas and facilities appurtenant to such apartment and to make such apartment and interest heritable and transferable and for matters connected therewith or incidental thereto.
(1) The Board or Manager--
(a) shall have, if requested so to do by a mortgagee having a first mortgage covering an apartment, the authority to, and
(b) shall, if required so to do by the bye-laws or by a majority of the apartment owners,
obtain insurance for the property against loss or damage by fire or other hazards under such terms and for such amounts as shall be so requested or required.
(2) Such insurance coverage shall be written on the property in the name of such Board or Manager as trustee for each of the apartment owners in the percentages specified in the bye-laws.
(3) The premia payable in respect of every such insurance shall be common expenses.
(4) The provisions of sub-sections (1) to (3) shall be without prejudice to the right of each of the apartment owner to insure his own apartment for his benefit.
(a) shall have, if requested so to do by a mortgagee having a first mortgage covering an apartment, the authority to, and
(b) shall, if required so to do by the bye-laws or by a majority of the apartment owners,
obtain insurance for the property against loss or damage by fire or other hazards under such terms and for such amounts as shall be so requested or required.
(2) Such insurance coverage shall be written on the property in the name of such Board or Manager as trustee for each of the apartment owners in the percentages specified in the bye-laws.
(3) The premia payable in respect of every such insurance shall be common expenses.
(4) The provisions of sub-sections (1) to (3) shall be without prejudice to the right of each of the apartment owner to insure his own apartment for his benefit.