‘Be alert when buying old high-rise units’

Owners of apartments and condominiums will be able to sell off their units even if they owe money to the JMB, when the Strata Titles (Amendment) Act 2016 comes into force on Jan 1 next year.

BUYERS of existing apartments and condominiums need to make sure the owners who are selling have settled outstanding payments owed to the Joint Management Body (JMB) of the building or risk being saddled with the debt as of Jan 1 next year.

This could pose a major problem to house buyers when changes are made to the Strata Titles (Amendment) Act 2016, which will come into force then.