No sale or rent of flat if common expenses aren’t paid in full-draft bill
Published on: Tuesday 26th September, 2023
Apartment owners who do not pay due common expenses in full will not be able to sell or rent them, according to a draft bill already sent to the island’s parliament.
The proposed bill aims to end the prevailing anarchy via a “certificate of payment of common expenses” from one’s management committee of the condominium or apartment complex.
Philenews also reported on Tuesday that the bill clearly states: “The certificate is necessary for vacating or leasing of the unit under the Transfer and Mortgage Act, or for the assignment of the contract of sale of the unit under the Sale of Real Estate (Special Execution) Act, or for the leasing of the unit, which will certify that the common charges have been paid and no amount is due”.
In addition, the bill specifies that the relevant certificate may also be issued by a duly authorized representative of the Management Committee.
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