What is a Float?

A float is a deposit intended to meet expenditure incurred for the property on an ongoing basis and will be replenished upon payment
of the common charges account at the end of each accounting period. Thereafter, the float is carried forward to meet the next account. Unless contrary to the terms of the Title Deeds, Deed of Conditions, or DMS, in the event of a sale, the float will automatically be credited to your final common charges account, leaving a balance to be settled by you, or refunded to you. We may review the level of float held on your behalf to determine if it remains sufficient to meet ongoing funding and request an increased level of float, as appropriate.