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Who will be responsible if there is no maintenance fund?
Legal basis: People's Republic of China (PRC) Urban Real Estate Management Law Article 2 This law shall be observed in obtaining the land use right of real estate development land, engaging in real estate development, real estate transactions and implementing real estate management within the state-owned land in People's Republic of China (PRC) urban planning area (hereinafter referred to as state-owned land). The term "houses" as mentioned in this Law refers to buildings and structures such as houses on land. The term "real estate development" as mentioned in this Law refers to the construction of infrastructure and houses on the land that has obtained the right to use state-owned land in accordance with this Law. Real estate transactions mentioned in this Law include real estate transfer, real estate mortgage and house lease.
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