Section 5 • THE ANDHRA PRADESH APARTMENTS (PROMOTION OF CONSTRUCTION AND OWNERSHIP) ACT, 1987
Section 5. Agreement to precede advance payment
5. Agreement to precede advance payment - A promoter who intends to transfer any apartment shall before, accepting any sum of money as advance payment or deposit, which shall not exceed twenty percent of the price, enter into a written agreement of sale with the intending transferee and the same shall be registered as a document compulsorily registerable under clause (b) of sub-section (1) of section 17of the Registration Act, 1908 (Central Act 16 of 1908).
{
"act_title": "THE ANDHRA PRADESH APARTMENTS (PROMOTION OF CONSTRUCTION AND OWNERSHIP) ACT, 1987",
"act_slug": "andhra-pradesh-apartments-promotion-of-construction-and-ownership-act-1987",
"section_label": "Section",
"section": {
"number": "5",
"title": "Section 5. Agreement to precede advance payment",
"chapter": null,
"content": "5. Agreement to precede advance payment - A promoter who intends to transfer any apartment shall before, accepting any sum of money as advance payment or deposit, which shall not exceed twenty percent of the price, enter into a written agreement of sale with the intending transferee and the same shall be registered as a document compulsorily registerable under clause (b) of sub-section (1) of section 17of the Registration Act, 1908 (Central Act 16 of 1908).",
"footnote": "16 of 1908",
"is_definition": false,
"sort_order": 510
},
"prev_section": "4",
"next_section": "6"
}
