Unutilized of Sinking Fund

Q&ACategory: QuestionsUnutilized of Sinking Fund
Grace Foo asked 12 months ago

Hi,
I would like to seek for advice that which party should bear the unutilized of sinking fund? The seller? The buyer? or the Management?
Appreciate for your help.
Thank you

1 Answers
OngKL Staff answered 12 months ago

Hi Grace,
 
In general, unutilized sinking fund should be borne by the buyer once the property is taken over. Seller’s lawyer will request the buyer to pay a prorated sum to the seller for all the advanced bills payment made for the property.

Grace Foo replied 12 months ago

Thank you for your reply. much appreciated.