Flat Chat Forum Buying and Selling Current Page

  • This topic has 4 replies, 3 voices, and was last updated 1 month ago by .
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  • #53549
    4atRW
    Flatchatter

    Our self-managed strata are planning a special strata meeting which may involve striking of a special levy for overdue common property repair work.
    One of the owners has sold their unit 4 weeks ago and will settle early February.
    I understand that the new owners will be required to pay their share of the levy but they will be unaware of this. Should the new owners be at the meeting?How are their interests represented given that they will required to pay?

    • This topic was modified 1 month ago by .
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  • #53579
    scotlandx
    Strataguru

    Until the contract is settled the buyers have no right to attend a meeting or vote, because they are not the owners. The current owner could give them their proxy but that is up to them.

    Note this situation is dealt with in the standard contract of sale. If the special levy is struck after the contract date, the purchaser is liable. Refer clause 23.6 of the standard contract.

    A number of adjustments are made at settlement, such as council rates and regular levies.

     

    #53564
    Jimmy-T
    Keymaster

    Despite my request, you reposted in exactly the same format.  I cleaned it up myself.

    When you copy and paste (especially from Apple)  the coding sometimes carries over.  If this is happening please type your post directly on to the website or paste your document into a text-only format then copy it from there.

    #53561
    4atRW
    Flatchatter
    Chat-starter

     
    <p class=”p1″><span class=”s1″>Our self-managed strata are planning a special strata meeting which may involve striking of a special levy for overdue common property repair work</span></p>
    <p class=”p1″><span class=”s1″>One of the owners has sold their unit 4 weeks ago and will settle early February. </span></p>
    <p class=”p1″><span class=”s1″>I understand that the new owners will be required to pay their share of the levy but they will be unaware of this.</span></p>
    <p class=”p1″><span class=”s1″>Should the new owners be at the meeting?</span></p>
    <p class=”p1″><span class=”s1″>How are their interests represented given that they will required to pay? </span></p>

    #53551
    Jimmy-T
    Keymaster

    Please clean up your coding and repost

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Flat Chat Forum Buying and Selling Current Page