Assessments

I recently purchased a condo. The sellers were responsible for paying 2 assessments, one short-term (3 mos.) for 5K to be paid by 08.22. The other was for 8K which is long-term, to be paid monthly ($140) until 02.28. Both assessments are paid to the management company. The 5k has been paid completely. I just found that the 8k is being treated as a credit balance, against which my monthly maintenance fee and monthly assessment (the $140) are debited. Rather than letting the management company hold my $$ and collect interest, can I demand that they pay me the credit balance, after which I will assume the responsibility for paying the maintenance fee and monthly assessment on my own?

submitted by /u/SnooBooks4898
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I recently purchased a condo. The sellers were responsible for paying 2 assessments, one short-term (3 mos.) for 5K to be paid by 08.22. The other was for 8K which is long-term, to be paid monthly ($140) until 02.28. Both assessments are paid to the management company. The 5k has been paid completely. I just found that the 8k is being treated as a credit balance, against which my monthly maintenance fee and monthly assessment (the $140) are debited. Rather than letting the management company hold my $$ and collect interest, can I demand that they pay me the credit balance, after which I will assume the responsibility for paying the maintenance fee and monthly assessment on my own? submitted by /u/SnooBooks4898 [link] [comments]

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