An apartment to the transferable and heritable property

(1) Each apartment owner shall be entitled to the exclusive ownership and possession of his apartment.

(2) An apartment together with its undivided interest in the common areas and facilities shall constitute heritable and transferable immovable property within the meaning of any law for the time being in force:

Provided that no apartment and the percentage of undivided interest in the common areas and facilities appurtenant to such apartment shall be partitioned or sub-divided for any purpose whatsoever.

(3) Notwithstanding anything contained in the Transfer of Property Act (4 of 1882) or in any other law for the time being in force, but subject to the provisions of Section 11 of this Act, any person—

(a) acquiring by purchase; or

(b) taking lease of for a period of thirty years or more,

an apartment comprised in a property submitted to the provisions of this Act, shall—

(i) in respect of the said apartment, be subject to the provisions of this Act, and

(ii) execute and register an instrument in such form, in such manner and within such period as may be prescribed by undertaking to comply strictly with the bye-laws and with the covenants, conditions and restrictions set forth in the declaration.