Unutilized of Sinking Fund

Q&ACategory: QuestionsUnutilized of Sinking Fund
Grace Foo asked 7 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 7 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 7 months ago

Thank you for your reply. much appreciated.