Where there is an outstanding or, contemplated special levy (as found in the minutes), Buyers and Sellers need to clearly state WHO is responsible for paying the levy. Ideally, a sharp realtor has considered the issue and stuck in a clause in the contract but, in the event it is forgotten:
- ensure you get a copy of the resolution authorizing the special levy to see if it contains an acceleration clause; and,
- look to s.109 of the Strata Property Act: the SELLER owes if the special levy is payable prior to the CLOSING DATE, whereas the BUYER owes if the special levy is payable on or after the CLOSING DATE.