Handover memorandum from a promoter to an association

MEMORANDUM OF HANDOVER OF COMMON AREAS, FUNDS AND DOCUMENTS

THIS MEMORANDUM is made at [Place of signing the memorandum] on this [Day of the month of the memorandum] day of [month, year] between [Name of the promoter], [description] (“the Promoter”), of the ONE PART, and [Name of the association / society], [a co-operative housing society registered under the [State] Co-operative Societies Act [year] under registration no. [ ] dated [date] / an association of apartment owners registered under [ ] / an association of allottees registered under [ ]], having its registered office at [Association's registered office address], PAN [Association's PAN] (“the Association”), of the OTHER PART.

Recitals. The Promoter developed the real estate project “[Name of the project]” at [Address of the project], RERA registration no. [Project's RERA registration number], comprising [Number of towers in the project] towers and [Number of apartments in the project] apartments, in respect of which the occupancy certificate[s] dated [dates] were issued. The Association has been formed and registered as aforesaid. In discharge of its obligations under sections 11(4) and 17 of the Real Estate (Regulation and Development) Act 2016, the Promoter hands over and the Association takes over the common areas, the funds and the documents described below.