Sorry everyone for my earlier post that said our Owners Corp could have been left high and dry if there were insufficient funds available from settlement to cover the unpaid levies (and interest, solicitor fees, collections fees, court fees etc). We were aware that the debt would pass to the new owner but we were also told that a savvy new owner could make it a condition of purchase that they were not responsible for that debt, and then we would have to pursue the prior owner through court. Effectively “high and dry” with only expensive legal remedies available to us.
Also, what if the new owner also refused to pay? How long would this drag on?
That comment led a few other posters off track. But my main point is – no, I would never again allow unpaid levies to slide as they can slide to the point where it’s difficult to recover them and as we found, once it got to that stage the owner stopped engaging with the other Committee members and started to neglect his apartments, to the detriment of all.