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Sinking fund

Postby Millymolly » Sun Mar 02, 2014 9:52 pm

Hi, I own a two bed apartment in Cyprus. I pay £1700 a year in maintenance charges. There are 22 apartments in the complex with a pool. The committee decided to ask us all for extra £2000 sinking fund each year. Is the sinking fund legally enforceable? I always pay my maintenance for the complex. I cannot pay nearly £4k a year out year on year-it happens every year and due to job loss over here, I'm stuck. I haven't signed any paperwork.


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