Can anyone confirm if the developer needs to pay the maintenance and sinking fund for those unbuild phase?
Strata act 757
Strata act 757
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Mar 23 2016, 02:07 PM
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#1
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3 posts Joined: Mar 2016 |
Can anyone confirm if the developer needs to pay the maintenance and sinking fund for those unbuild phase?
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Mar 25 2016, 01:19 PM
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3 posts Joined: Mar 2016 |
QUOTE(aurora97 @ Mar 25 2016, 12:45 PM) what is there to maintain, if the "phase" have yet to be built? Sorry i didnt make my question clear. A developer already built 2 phases of landed strata parcel and VP as well. The 3rd phase is yet to be built. Thus the common area which is shared by the 3 phases. Maintenance and sinking fund are for the common area which is already built. So does the developer need to pay the maintenance charges for the phase not built? Doesnt make sense if only Ph 1 & 2 covering the maintenance cost for the common area is is suppose to be shared by the 3 phases. What does the law say?my other question is, assuming developer cancel the project, what will happen to the maintenance and sinking fund for those "unbuild phases"? |
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