Commentary

57.2 Apportionment of the commonhold assessment and reserve fund levy

COMMONHOLD vol 8(1)
| Commentary

57.2 Apportionment of the commonhold assessment and reserve fund levy

| Commentary

57.2 Apportionment of the commonhold assessment and reserve fund levy

As in the case of periodic payments under a lease, the seller and buyer of a commonhold unit will no doubt wish to apportion liability for the commonhold assessment as at the date of completion. In the case of leaseholds this is straightforward, as rent and service charges under a lease relate to a defined period of time.

In the case of commonholds, the position is less straightforward. The model form of commonhold community statement provides that an annual estimate must be made of the amount required to meet the expenses

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