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RE: RE: RE: Calculating levy in month of Unit transfer

In practice, Gerhard, that will happen only if a tripartite agreement has been entered into between the seller, purchaser and BC, releasing the seller from liability for levy payments beyond the date of transfer. The purchaser is under no obligation to enter into such an agreement, however - and the seller will thus, i.t.o. Section 37(2), remain liable for levy payments until the next year's levies are ratified by a trustees' resolution. What has happened increasingly over the past five years or so - presumably to avoid the hassle and additional cost of a tripartite agreement - is that the levies for the remainder of the year are built into the purchase price and paid across to the BC in full by the conveyancer on transfer. By making provision for levy contributions to continue beyond the end of the financial year, the more recent addition of PMR 31(4A) would have affected the adequacy of this arrangement, necessitating either an open-ended debit order against the seller's bank account OR a tripartitite agreement to make provision for levy liability to be transferred to the new owner during the interim period preceding the ratification of the new financial year's levies - OR the amendment of Section 37(2) to legitimate the automatic transfer of levy liability as from the date of transfer of the unit.