Sec­tional ti­tle levies have a dead­line

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DUE DATE Sec­tional ti­tle levies are payable im­me­di­ately fol­low­ing the pass­ing of the res­o­lu­tion by the trustees of a body cor­po­rate. Sec­tional ti­tle man­age­ment com­pany IHFM’s GM, Michael Bauer, in his lat­est news­let­ter on, says this is usu­ally taken to mean 14 days af­ter the AGM in the case of the or­di­nary levies.

“The due date, amount and pay­ment form of levy con­tri­bu­tion is usu­ally the most im­por­tant res­o­lu­tion that trustees will pass in any given year,” said Bauer, “and it will very of­ten be the one most de­bated by body cor­po­rate mem­bers, even though once their trustees have agreed to it, they have no right to ob­ject.” The levy is the re­spon­si­bil­ity of the per­son who owns the unit on the day the res­o­lu­tion is passed by the trustees.

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