Condominium Reserved Fund (公寓/城市屋 儲備基金)

November 17, 2012

Condominium(公寓/城市屋)的買家必須非常小心留意condominium reserved fund(公寓/城市屋儲備基金)是否足夠。因為如果儲備基金不足,就無法支付更新、保養、維修或其他工程,新業主便可能要負責支付差欠的費用。

買家應聘請專家去審計公寓/城市屋的financial statements(財務報表)及儲備基金的狀況。在作出一個明智購買公寓/城市屋的決定之前,必須考慮清楚儲備基金是否足夠。


*** 注:本博客中所有內容僅供參考。請找律師提供專業及全面的法律意見。


Condominium Reserved Fund

May 29, 2011

Buyers of apartments or town houses need to be very careful of money in condominium reserved fund. Why? Because if there are not enough money in the reserved fund to complete existing renovation, maintenance, repair, or other projects, then the new owners may be responsible for short fall in these expenses.

Experts can be retained to review the condominium’s financial statements and the status of the reserved fund. It is important to consider the sufficiency of the condominium reserved fund in order to make an informed decision before purchasing an apartment or town house.

You may contact me for further legal advice.


Note: All postings in this blog are for information only, please consult a lawyer for proper legal advice.

Condominium Documents

October 4, 2008

Review of condominium documents can minimize potential future surprises and problems.

The following are some examples,

  1. Are there pending lawsuits against the condominium board?
  2. Is there levy of special assessment? If so, who is responsible to pay? The seller or the buyer? Or both?
  3. Are there sufficient reserved funds setting aside for various types of repairs and maintenances of the condominium?
  4. Are there any issues that can be discovered from a careful review of the condominium board meeting minutes?
  5. Can you have pets on the premises according to condominium bylaw?

You may contact me for further legal advice.


Note: All postings in this blog are for information only, please consult a lawyer for proper legal advice.

%d bloggers like this: