# Real Estate (Regulation & Development) Act, 2016, Section 16

- Act: Real Estate (Regulation & Development) Act, 2016 (Act 16 of 2016)
- Source URL: https://indiacode.ecourtsindia.com/real-estate-regulation-amp-development-act-2016/section/16/

## Text

(1) The promoter shall obtain all such insurances as may be notified by the appropriate Government, including but not limited to insurance in respect of - (i) title of the land and building as a part of the real estate project; and (ii) construction of the real estate project. Obligations of promoter in case of transfer of a real estate project to a third party. Obligations of promoter regarding insurance of real estate project. ther defedt in (2) The promoter shall be liable to pay the premium and charges in respect of the insurance specified in sub-section (/) and shall pay the same before transferring the insurance to the association of the allottees. (3) The insurance as specified under sub-section (/) shall stand transferred to the benefit of the allottee or the association of allottees, as the case may be, at the time of promoter entering into an agreement for sale with the allottee. (4) On formation of the association of the allottees, all documents relating to the insurance specified under sub-section (/) shall be handed over to the association of the allottees. Transfer of title.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.