Levy Clearance Certificate. The body corporate is entitled to withhold the levy clearance certificate, in terms of section 15b (3) (a) (i) (aa. Conveyancers have to request the managing agents for a levy clearance certificate valid until the end of the month during which we expect registration.
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The body corporate refused to furnish the levy clearance certificate until the outstanding amount of monies due was paid by the current registered owner. The obtaining of the rates certificate and levy clearance certificate, in my opinion is a part of the transfer costs payable by the purchaser. If the levy clearance certificate is issued by the managing agent of the scheme, who is authorised to sign the certificate in terms of prescribed management rule 10(1)(a) of annexure 1 of the regulations to the stsma, he might charge an administration fee for doing so, so this needs to be budgeted for.
This Applies Even Where The Sale Of The Property Wouldn’t Fetch Enough To Pay The Outstanding
If the levy clearance certificate is issued by the managing agent of the scheme, who is authorised to sign the certificate in terms of prescribed management rule 10(1)(a) of annexure 1 of the regulations to the stsma, he might charge an administration fee for doing so, so this needs to be budgeted for. Section 37 (1) (ba) says the body corporate must charge. Transferring attorneys therefore contacts us to obtain a levy clearance certificate in this regard.
The Conveyancer Attending To The Transfer Then Gives A Separate.
The obtaining of the rates certificate and levy clearance certificate, in my opinion is a part of the transfer costs payable by the purchaser. This applies even where the sale of the property wouldn’t fetch enough to pay the outstanding levies. A ‘levy clearance certificate’ is a document that is obtained from the managing agent or trustees of a body corporate that certifies and confirms that the seller of a unit does not owe any money to the body corporate when the purchaser of the.
The Rates And Levy Clearance Certificates Are, Essentially, Documents Proving That The Current Owner Of The Property Does Not Owe Any Outstanding Money On The Property, Either To The Municipality Or The Body Corporate.
If the levy clearance certificate is issued by the managing agent of the scheme, who is authorised to sign the certificate in terms of prescribed management rule 10(1)(a) of annexure 1 of the regulations to the stsma, he might charge an administration fee for doing so, so this needs to be budgeted for. About the levy clearance certificate. As a safety measure, the managing agent usually requires an advance payment before issuing the clearance certificate to.
In Terms Of Section 15B(3) Of The Sectional Titles Act, The Body Corporate Must Confirm That All Levies Have Been Paid By The Seller Up To The Date Of Registration.
465 Came Into Force, Determining The Enforcement Of A Basic Residence Tax Of Fifty Cents And An Additional Tax Of A Peso.
Conveyancers have to request the managing agents for a levy clearance certificate valid until the end of the month during which we expect registration. In essence, the levy clearance certificate will certify that all amounts due have been paid for that particular property up to the validity date of the certificate, and if there are funds still due to the body corporate or home owners association. I disagree and regard such refusal to be a wrongful and dangerous practice for reasons which i shall explain.
