Dear Sifu, need your help to take a look.
I am buying a condo and I had paid the deposit and going to execute SPA.
In the SPA, one of the clause are as below:
"All lawful outgoing charges including but not limited to the quit rent, assessment rates, , service charges, water charges, electricity charges and all other charges for utilities and services payable in respect of the Property shall be borne and fully settled by the Vendor as and when they shall become due and payable up to the Delivery Date and shall be apportioned between the Parties as at vacant possession is delivered to the Purchaser by the Vendor . "
I not really understand the above clause. Is it means that when VP is delivered to purchaser, the outgoing charges stated above shall be apportioned or shared by both parties (vendor and purchaser)? Why need to apportioned by both parties? Is this normal in SPA? For my understand, all lawful outgoing charges should fully borne by the vendor up to the date that Vacant possession delivered to purchaser, right?
Legal experts, help please!!!
Thank you.
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Sep 28 2012, 09:48 PM
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