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 Vacant possession : definition and charges ?

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TSGnomeo
post Feb 9 2013, 06:49 PM, updated 13y ago

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Hello,

I have been informed to take vacant possession of my condo but it seems that if condo is finish, the public facilites are not yet completed. Is it normal ?
I also wonder how developer managed to get VP and OC in such situation ? It seems that there will be still 2 or 3 months needed to complete everything.


For the charges, when developer got VP, he sent letters to all purchasers to get the final payments, the maintenance charges provision and a sinking fund. When all was in order, he said that he would send a letter of clearance to each purchasers but this letter was in fact sent to his own management . From that date, purchasers have been requested to inspect their condo within 10 days and take vacant possession. Seems a bit strange also ?

What about maintenance charges. When do we start to pay them ? from the date when developer got his Ok for VP and inform purchasers or when actual purchaser take his vacant possession personnally for his own condo ?

Thanks
prop99
post Feb 9 2013, 07:49 PM

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Is this commercial or residential title?
TSGnomeo
post Feb 9 2013, 07:56 PM

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Residential
optimus28
post Feb 12 2013, 09:25 PM

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there's been amendment to the strate title act, i think when they issue you VP, they need to issue the title out as well..

This would not be possible if the public facilities are not complete - will have problems spilting from master title..

check with the lawyers (try not to go with the ones appointed by the developer)
TSGnomeo
post Feb 18 2013, 07:01 PM

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Ok thanks
archninja
post Feb 20 2013, 04:25 PM

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By right, notice
of VP can only be given once CCC is out, in accordance with the Housing Act.

However, many developers ignore this and are keen to release notice of VP as this triggers the defects and liability period on the property. Irreponsible developers like Empire Holdings offer ONLY SIX MONTHS of defects period, which starts at the issuance of VP. BUT, even after the issuance of VP & also after settling all payments to MEH, purchasers are not allowed to even inspect, look or step into their units despite getting a clearance letter from them! They have suddenly announced a start date of inspections of 25 Feb... am onth from VP issuance and now, 5 months left of the defects period.

This is incredibly unfair to the purchaser and I believe MANY are in the same boat.

For as long as no collective voice raises complaints, these sneaky, unethical ways of errant developers will persist.
nookie188
post Mar 6 2014, 07:36 PM

Look at all my stars!!
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you mean developers can issue VP notices when OC not out yet??

so how ? they can take their sweet time to get OC meantime owners cannot move in yet without water and electricity ..

 

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