Generally, once the corpus fund has been paid and accepted by the builder or the association, it is considered non-refundable. The corpus fund is typically collected for the maintenance and welfare of the property and its residents.
Since the builder accepted the corpus fund in 2016 and it has been six years since then, it is unlikely that he can legally demand a refund at this point. However, it's always best to consult with a legal professional to get advice specific to your situation and to review any agreements or documents related to the corpus fund.
Check out NoBroker Legal services to verify property title, draft sale agreement, deeds, property registration and moreYour Feedback Matters! How was this Answer?
Thanks ,We got your reaction
The builder had given the Corpus Fund to us in 2016, but failed to build the building. Now quitting as builder can he ask for Corpus Fund refund after 6 years?
Saroj
298 Views
1
4 months
2025-01-06T11:05:39+00:00 2025-01-06T11:07:22+00:00Comment
Share