BC building insurance in settlement figures

[belleran]

When selling a duplex unit in Qld do you calculate the portion the buyer needs to pay for the prepaid BC building insurance just as you do for land and water rates and include it in the settlement figures?

 

[Terry_w]

When selling a duplex unit in Qld do you calculate the portion the buyer needs to pay for the prepaid BC building insurance just as you do for land and water rates and include it in the settlement figures?

Whatever the parties agree on.

 

[handyandy]

When selling a duplex unit in Qld do you calculate the portion the buyer needs to pay for the prepaid BC building insurance just as you do for land and water rates and include it in the settlement figures?

I don't think it is normal to apportion any breakdown of body corporate expenses.

You pay you levies and you get a tax deduction at that time - done deal. What the strata then spends it on is not relevant.

There are exceptions if the money raised was a special levy.

But as Terry mentions - every thing is negotiable.

Cheers