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Using maintenance fees for other purposes

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  • Author
2 hours ago, BobBKK said:

I disagree - go to the land office

As previously mentioned, there are only two options to apply for a JP. LDA Section 44 with the Developers support when the Developer is discharged from maintaining the common facilities at his request and Section 70 without the Developers support when the Developer fails to maintain.

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  • malcolminthemiddle
    malcolminthemiddle

    Surplus maintenance fees.

  • VocalNeal
    VocalNeal

    Painting the common areas? Maybe a pool? Repainting the lines in the parking area? New couch for the reception area? Or the amount carried over to the next financial year to compen

  • Shouldn't the excess just rollover, wouldn't seem logical to recalculate everyone's payment for every overage, unless the excess becomes insanely huge, it would also make sense to have a decent reserv

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  • Author
3 hours ago, Dante99 said:

not required based on actual practice

Did you forget to ask? Please see attached Sample 2 from Land Department Establishing Housing Development Legal Entity Manual. 

Sample 2_Assets_Eng.jpg

Read the titled and assumed you'd caught your ex partying whilst leaving the kids to starve at home.

4 hours ago, malcolminthemiddle said:

As previously mentioned, there are only two options to apply for a JP. LDA Section 44 with the Developers support when the Developer is discharged from maintaining the common facilities at his request and Section 70 without the Developers support when the Developer fails to maintain.

How many times are you going to post that when several posters have told you it is incorrect?

 

You paid the fees.  They are not yours anymore and never will be.

 

 

Waisting time here.  Should be working with your neighbor home owners but easy to see why that may not be happening.

  • Author

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.

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