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• The current insurance cover note or other evidence of insurance issued by the insurer explaining the strata corporation’s insurance coverage, coverage limits, expiration date(s), and deductibles.

Subject to the Buyer and Seller, on or before (date), entering into an assignment from the Buyer to the Seller for nominal consideration of all the Buyer’s right, title and interest in any funds paid by the strata corporation to the Buyer as a result of (enter the reason for the payment such as the return of money assessed by a special levy, including relevant dates.)

Buyer credit for special levy

If a special levy is approved by the strata corporation, or applicable section, after this Contract is entered into but before the Completion Date, the Seller will, on the Completion Date, credit the Buyer with the entire portion of the special levy that the Buyer is obligated to pay under the Strata Property Act.

Buyer credit for special levy – negotiate portion

If a special levy is approved by the strata corporation, or applicable section, after this Contract is entered into but before the Completion Date, the Seller will, on the Completion Date, credit the Buyer with _____% of the portion of the special levy that the Buyer is obligated to pay under the Strata Property Act.

Holdback for proposed levies

The Buyer and the Seller hereby irrevocably direct the Buyer’s Conveyancer to hold back a findmate date portion of the Purchase Price in the amount of $_____, (the “Holdback”) until (date) (the “End Date”). The Buyer’s Conveyancer will pay to the strata corporation, or applicable section, out of the Holdback any special levies (or similar levies charged by the strata corporation or applicable section) (“Levies”) that are levied and payable after the Completion Date and before the End Date. Read more “Assignment of proceeds from Buyer to Seller”