Pricing and charges
Corpus fund
A one-time sinking fund collected from buyers at possession and handed to the residents' association for major repairs and long-term upkeep.
Also called: sinking fund
A corpus fund is a reserve built from one-time contributions by each buyer, usually at possession. The developer holds it until the association is formed and then transfers it with accounts.
Buyers ask whether the corpus earns interest and when it will be handed over. Record each buyer's contribution separately in the ledger so the handover to the association is easy to reconcile.
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