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malcolminthemiddle

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Posts posted by malcolminthemiddle

  1. Thank you Delight for responding to my post. Apologies if my post was not clear. My interest is in landed property within a Moo Baan governed by the Land Allocation Act rather than a condominium and whether the expense of common services before the establishment of a JP is shared between the buyers and the developer while there are unsold plots, similar to a condo project.

  2. On 6/30/2023 at 9:01 AM, JimHuaHin said:

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  3. Thanks to all that contributed to this topic.

     

    The conclusion is that subject to legal advice, Land Department accounting rules, Consumer Protection Act and the Buy and Sell Contract there is an argument that maintenance fees shall be spent only on their intended purpose and surplus maintenance fees paid pre-JP shall be rolled-over and included in the asset account and transferred to the JP at the time of hand-over.

     

    If anyone can provide a specific reference, the OP question remains open.

  4. 34 minutes ago, Dan O said:

    Are all the lots sold? If so you can act as a group to request creation of the Juristic entity and only lot owners are involved to vote\action.

     

    Not all plots must be sold to apply for a JP which as mentioned is limited to Section 70 without the Developers support. A JP application can be made after 51% of plots are sold. Pre-JP registration only Buyers have a vote.

     

    If the developer is still a lot owner then they are entitled to a vote for each lot but nothing more.

     

    The Developer gets a vote for each unsold plot as a member of the JP but only post-JP registration.

     

    You would need to set up the regulations for the community to work by and include fee schedules for maintenance and operations. It would be wise to consult with a non interested party that has experience in this area as the accounting done properly has several aspects that need to be defined on setting appropriate fee structures and use parameters and accounting validation for the new Juristic entity to handle maintenance and repair, capital expense budgets and capital reserve plans for future requirements. You would also be wise in stipulating the scope of the Juristic entity, length of tenure and evaluation and review of Juristic actions 

     

    Thanks for the advice. We are aware of the requirement, content and purpose of an Articles of Association. Thanks again.

     

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