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What is a maintenance fund and who should own it?
Legal analysis: 1. Maintenance fund, also known as "public maintenance fund" and "special maintenance fund", refers to the fund that the owners of residential properties pay a certain standard of money to a special account for the maintenance of public parts and facilities in the property area, and authorize the owners' committee to manage and use it in a unified way.

2. The maintenance fund is jointly raised by the owners of the property, who enjoy the maintenance fund according to the proportion of payment, but the right to use it belongs to all owners, and individual owners may not withdraw their own maintenance fund from the bank. The maintenance fund is combined with a specific house, exists with the existence of the house, and is also lost with the existence of the house, and does not change because of the change of the specific owner. When the house property right is changed to a new owner, the maintenance fund should also be renamed from the old owner to the new owner.

3. The property management company can temporarily borrow the reserve fund equivalent to one month's daily maintenance and update cost of the property from the maintenance fund; Unless otherwise agreed in the property management service contract. If the house needs to be overhauled or specially maintained or updated, the advance payment agreed in the construction contract may be withdrawn, but the advance payment shall not exceed 30% of the total project amount. The owners' committee may keep a reserve fund equivalent to one month's activity funds in the account of the property management enterprise, unless otherwise decided by the owners' meeting.

Legal basis: Measures for the Administration of Residential Special Maintenance Funds

Eighteenth residential special maintenance funds should be earmarked for residential * * * parts, * * facilities and equipment maintenance and renovation after the expiration of the warranty period, and shall not be used for other purposes.