1 reviews | Active since Sept 2015
INTEREST CHARGED ON ESTATE LATE LEVY - R1103 PLUS
have inherited my late mums sectional title flat. There was no other money in the estate. I have backpaid the levies due so that I can have the property transferred into my name. body corporate is insisting I pay the interest backdated to when my mum passed away so that the property clearance certificate can be processed. i.e.<br> Am I bound to pay the interest fee and fee demand charges?<br> 2014 <br> March 2.31 10.5% Int<br> March 11.31 11% Int<br> March 230.00 Admin Fee Demands<br> April <br> May <br> June 8.16 11% Int<br> July 13.94 11% Int<br> Aug 2.10 11% Int<br> Aug 21.31 11.25% Int<br> Sep <br> Oct 33.84 11.25% Int<br> Nov <br> Dec 71.09 <br> 2015 <br> Jan 37.11 11.25% Int<br> Feb 61.10 11.25% Int<br> March 65.18 <br> March 255.00 Admin Fee Demands<br> April 63.49 <br> May 73.86 <br> June 68.32 <br> July 21.70 <br> Aug 26.29 <br> Sep 7.07 Arrears Int<br> Sep 30.38 Arrears Int<br> 1 103.56 <br> <br> ADVICE GIVEN<br> ST Act and Rules say nothing about the charging of interest on debts in a deceased estate. My feeling is that this matter is not regulated by the ST Act but by legislation regulating the administration of deceased estates. In my own experience, I have never come across such interest being charged, and suspect that it may be ultra vires.
The Sectional Title Act authorises the Trustees of the Body Corporate to charge interest on arrears. This applies to all owners whether they are deceased or not. In the normal cause of events, the Estate (or the heirs) continue to pay for the levies until matters are finally wound up.
It would certainly be difficult for Bodies Corporate to run their affairs if deceased estates failed to pay their levies until the estate is wound up, which could take many months to be finalised.
It must be noted that no payments for levies were received from February 2014 to May 2015 which is clearly unfair to other owners.
Kind Regards,
Wakefields Property Management
The Sectional Title Act authorises the Trustees of the Body Corporate to charge interest on arrears. This applies to all owners whether they are deceased or not. In the normal cause of events, the Estate (or the heirs) continue to pay for the levies until matters are finally wound up.
It would certainly be difficult for Bodies Corporate to run their affairs if deceased estates failed to pay their levies until the estate is wound up, which could take many months to be finalised.
It must be noted that no payments for levies were received from February 2014 to May 2015 which is clearly unfair to other owners.
Kind Regards,
Wakefields Property Management