How to obtain a certificate of paid share

What is a share and what role does it play in a housing cooperative?

A share is part of the accumulation of a member of an organization in the general financial fund in accordance with Art. 215 Federal Law of 2004. Payment of shares is mandatory for all participants of the housing cooperative.

To ensure all stages of construction and the life of the house in the future, all co-founders are required to make monetary contributions. But such injections are not part of the housing stock, but only monetary support for membership in the organization.

Share deposits are necessary to compensate for the expenses of a legal entity in the process of activity. Such expenses are determined at the general meeting, which subsequently receives a report for such expenses. After concluding an agreement with a construction company, the participant in the process is obliged to pay a certain part of the amount monthly according to the schedule. It is possible to take possession of real estate only after 100% payment of all finances.

The amount of the contribution is determined by the Charter and must correspond to the average market value of such housing. This amount is indicated in the agreement concluded with the community. However, after payment of the entire specified share and during the distribution of living space, its amount is often revised.

Such an investment is legally justified by the property of the owner, with which he can actually carry out the same transactions as with any other property. Inherit, sell, donate, bequeath, etc. One accumulation can have several owners at once.

Who is a shareholder

A shareholder is a construction participant who owns a share and has been accepted into the ranks of the company in accordance with the Charter. The role of such a buyer can be either an individual or a legal entity.

To join the ranks of owners of cooperative property, you should apply to the chairman of the organization. Next, the candidacy of the new participant is considered at the general meeting and approved by open voting, all of which takes more than a month.

The applicant will become a co-founder only after approval at the meeting and payment of the entrance fee. The number of participants in the process should not exceed the amount of living space in the house. All information about such persons is entered into a special register, which is constantly updated. Each shareholder is a participant in general meetings, which act as the main management mechanism.

A citizen who has joined a cooperative organization has rights and responsibilities in accordance with the law and the Charter. Thus, the inalienable rights of a person are:

• Obtaining housing after full payment of the cost of the property;
• An investor in a construction company has the right to a share;
• He has the opportunity to live on the received territory together with his family without ownership rights;
• He has the right to vote at the general meeting and submit his proposals to the minutes;
• After fulfilling all assigned obligations, the citizen receives access to property ownership.

The main responsibility of the applicant for living space is the systematic and timely investment of money.

When transferring funds, you need to receive a receipt or check confirming the payment. Otherwise, it will be difficult to prove the fact of payment during legal proceedings.

Who is a shareholder and who pays the share contribution?

A shareholder is, in other words, a member of the housing cooperative. A member of the housing cooperative becomes any person who has entered into an agreement to join the housing cooperative and has paid the entrance fee and timely transferred the share contributions. The rights and obligations of members of the cooperative are regulated by Art. 110 of the Housing Code and are defined in the charter of the cooperative.

A shareholder can be either an individual or a legal entity. To do this, they submit an application in the prescribed format addressed to the board of the housing cooperative. Members of the housing cooperative are given a month to consider this application and make a decision.

The candidacy of a shareholder must be considered at the general meeting, after which he pays an entrance fee and becomes a shareholder. When depositing it, you need to receive a receipt from the housing cooperative about receipt of money. Only then will the shareholder have confirmation of the legality of the transaction regarding his entry into the cooperative, otherwise the transaction may be challenged.

The shareholder is the responsible person for decisions made at meetings of shareholders.

The peculiarity of a housing cooperative apartment is that the owner is actually one person, who is also at the same time a member of the cooperative, although initially his entire family may be registered in the apartment with him.

Members of the shareholder's family have the right to reside in the apartment (in other words, the right to use), while the ownership rights to the real estate do not belong to them.

Members of the shareholder’s family living together receive ownership rights to an apartment from a housing cooperative in two cases:

1. If a member of the housing cooperative received money to pay for the share from a third party, but this fact must be documented and the court must decide that the third party owns a share in the property, taking into account the share contributed by him.
2. The shareholder's spouse has the right to half the share in the property right , which was paid by him at the time of marriage.

Contributions – what are they, who pays, why and how?

Share contributions are monthly payments in the amounts established by the agreement and the Charter. Payment is required, this is a guarantee of membership in the community and future prospects for the property.

Fully paid funds are the basis for obtaining housing that corresponds in price to the size of the paid share. Each construction investor makes monthly payments in the required amount until the amount established by the Charter is fully repaid. To ensure the construction of future property.

Such payments may be regular over a certain period of time or one-time in full. Only after 100% payment of the required portion can the applicant count on receiving housing. At the same time, he remains a co-founder and is obliged to live in the allocated living space in accordance with the statutory rules.

Also, the board of the construction company may require the new tenant to make additional payments covering:

• Payment for the work of service personnel - cleaners, concierge, janitor, plumber;
• To carry out ongoing repair work related to the arrangement of premises;
• Investments in business activities, since cooperatives can engage in such activities, while dividends are distributed among all shareholders.

It should be remembered that the invested funds can be returned to the owner in case of withdrawal from the founders.

This situation can arise for two reasons:

• Due to a person’s failure to fulfill his obligations, then the deposited amount is returned to him within 2 calendar months from the moment the decision was made by the meeting;
• At your own request - in this case, the procedure for returning funds is not clearly regulated by law, and they are returned in accordance with the clauses of the signed agreement to join the organization or its Charter.

What is a contract

A share agreement is a document signed with a housing construction company that has legal force and provides its owner with the right to receive housing.

When collaborating with the community, the citizen signs the documentation twice - on the payment of a sum of money and on the purchase and sale of property to obtain a certificate of title. A share agreement is the first stage of signing papers, according to which a person undertakes to fully pay the agreed amount over a certain period of time to obtain housing.

Preliminary stage

However, before signing it, it is necessary to check some nuances of the existence of a housing construction company:

• Is she the owner of the territory under construction;
• Does he act as a developer of the house being invested;
• If not, who is doing the construction;
• Planned date of commissioning of the building;
• The procedure for making mandatory payments;
• Terms of membership.

When studying documentation and the history of community development, you should pay special attention to:

1. Studying the agreement between the cooperative and the developer to see if it contains a column on termination of the agreement if the investor’s party fails to fulfill its obligations. This allows the developer to cease activities and leave the construction site at any time. This circumstance may delay the construction of a house for a long period.
2. Documentation of the investor himself:

• Availability of clear and accessible clauses in the Charter;
• Availability of registration papers of the housing cooperative as a legal entity;
• Its status is in the housing cooperatives register;
• Availability of a project declaration;
• The permit for construction activities must have a certain validity period.

1. When signing the document you should also:

• Remember that the entire process of depositing and not depositing money is regulated only by the Charter, and funds cannot be raised in any other way;
• Providing residential premises for moving into them Art. 124 of the Housing Code is carried out through a vote of the general meeting, taking into account the statutory rules.

The accumulative agreement is not the basis for accepting funds from a member of the cooperative and allocating living space. Likewise, additional papers are devoid of any guarantees.

What to prepare

To join the company and sign the agreement you must provide:

• Statement;
• A copy of your passport;
• Copy of TIN;
• A certificate of family composition, but it is not mandatory.

Structure

The preliminary agreement must include the following information:

• Name of the legal entity;
• What is this agreement on share contributions;
• Signing number;
• Place of compilation;
• Full name and passport details of the investor;
• Grounds for action of housing cooperatives;
• Full description of the subject of the paper - footage, cost per square meter. meter;
• Obligations of the future tenant to make share contributions with a clear description of them - size, payment terms, period of full contribution;
• A complete description of the object under construction - ownership and size of the plot, number of storeys of the building, number of apartments in it, location and address of the house;
• Cost of leaving the community;
• Description of the condition of the apartment at the time of delivery;
• It would not be superfluous to indicate the date of commissioning of the house.

When signing the paper, make sure that there is no point for collecting additional funds, since such fees increase the cost of the property by up to 30%.

It should also contain information:

• On the rights and obligations of the parties;
• On termination, including unilaterally;
• Conditions for the sale of shares;
• Force majeure;
• Controversial points.
• Signatures of the parties.

Assignment

Assignment of a share in a housing cooperative is an agreement according to which the right to claim the property is assigned to another person.

The future owner of the property often becomes an investor at the stage of construction work. Because often it is the funds of future residents that are the main ones for the construction of a house.

However, due to certain situations, it is possible for an investor to assign his share through a purchase and sale agreement. In this case, the assignment condition must be met - a fully paid share and the availability of free living space.

Download:

• form of agreement for assignment of shares in housing cooperatives
• sample agreement for the assignment of a share in a housing cooperative

Risks of assignment

When purchasing such real estate, it is necessary to take into account all its legal features and the nuances of drawing up the transaction itself.

In this case, it should be understood that the assignment of a share investment does not give authority in relation to property, since in a housing cooperative, ownership of square meters is available only under the condition of membership in the organization, which can actually be obtained after a positive vote of all co-founders.

So, the entire success of the process is in the hands of the housing cooperative board and the general meeting. In this case, you should not rely on the assignment agreement - it is not registered with Rosreestr, which means it is an ordinary document that will not act as evidence during legal proceedings.

In the process of purchasing an apartment during the construction stages, the buyer runs the risk of incurring additional expenses. Because construction activities may well turn into long-term construction, and housing prices will rise. At the same time, no one will be able to verify the developer’s honesty further, since banking institutions do not credit assignments to housing cooperatives.

Elimination of risks

1. Before purchasing an apartment under this scheme, you need to find a developer who will sell them in this way.
2. Check the company's reputation.
3. Include in the contractual terms a clause on the return of money in the event of a negative decision at the meeting.

The best option for purchasing an apartment by assignment is to receive a protocol on the general decision to accept the buyer as a member of the housing organization. And only then pay for the purchase and sign the contract.

Also, before signing the assignment agreement and confidence in the developer, you should check:

• Has the seller paid the developer in a timely manner, are there any debts or fines; if so, then you need to make sure that the documents provided for the living space are valid and that the assignment of the right of debt corresponds to the right of claim;
• Find out the cost of the developer’s written consent to change the owner; this service is paid;
• Amount of additional financial obligations;
• Availability of all papers under the primary agreement - all their transfer is carried out through a transfer deed;
• Minutes of the meeting with the decision to admit a new member;
• It is also necessary to clarify the status of the land plot under the building.

Documentation

In order to officially secure ownership of the share property after receiving membership and signing the assignment paper, it is necessary to prepare:

• Passport;
• Receipt for payment of state duty;
• A certificate from the board confirming full payment of funds;
• Cadastral passport;
• A photocopy of the warrant for the apartment.

Registration of title papers lasts from 18 days to 4 months. Check-in to the premises is available immediately upon receipt of the keys, but it is better not to modify it until you receive the title documents.

Cost of the procedure

The cost of the entire assignment procedure is determined by the board and stated in the charter document; it ranges from 40,000 to 100,000 rubles.

In any case, when the share is returned to the deceased owner of the property, up to 10% of the money contributed is withdrawn. It is believed that compensation should be paid from the money received for the sale of property.

The acquirer is able to additionally spend funds on:

• re-registration of documents from 20,000 rubles;
• entrance fee from 10,000 rubles;
• target contribution, if the house has already been built, from 10,000 rubles;
• advance payment for housing and communal services from 10,000 rubles;
• commission to the bank for transferring money to the developer from 2,000 rubles;
• payment for additional sq. meters.

The procedure for registering the transfer of shares

If a member of the cooperative does not have the opportunity to continue making share contributions, he can draw up an agreement for the assignment of the share in the housing cooperative. It involves the conclusion of a purchase and sale agreement and assignment of shares.

The assignment of a share is possible if this condition is in the housing cooperative agreement, there are no residents in the apartment, and the expected share contributions have been paid in full.

The procedure for transferring a share has many risks for the buyer, since as a result of its registration he may lose money and not receive ownership rights as a result. This is due to the characteristics of housing cooperatives. The fact is that in order to acquire ownership of real estate, a person must become a member of the housing cooperative, and the assignment of the housing cooperative does not automatically guarantee the buyer that he will be included in the membership. After all, if at a meeting of shareholders a negative decision is made regarding a new member, he will lose money and will not ultimately acquire ownership rights.

To avoid the risk of losing real estate, the purchase and sale agreement must include a clause stating that the funds will be returned if the buyer is refused membership in the housing cooperative.

The procedure for assigning rights of claim to real estate involves going through the following stages:

1. The parties sign a purchase and sale agreement.
2. The seller writes an official statement to withdraw from the cooperative.
3. The buyer writes an application to join the cooperative.
4. The buyer is included in the number of members of the cooperative and the buyer and the seller enter into an agreement on the assignment of rights.
5. The buyer is given a certificate in his name about the amount of the paid share.

Payment certificate - what is it, where and how to get it?

This is a document of title confirming full payment of the due amount.

According to the Charter and the law, payment of a 100% share guarantees the investor the availability of square meters, however, there are certain circumstances when such a right can be challenged.

To avoid such situations, you need to request from the chairman a certificate of full payment of your part, which acts as the main document of title before re-registration of ownership to the owner.

Help contains:

• Full name of the citizen;
• Date of joining the organization;
• Grounds for admission to membership – number of the minutes of the meeting;
• Date of last payment;
• Total share size;
• Apartment address and number;
• Apartment number.

This certificate must be checked for compliance and accuracy of the data, signed with the initials deciphered by the chairman and certified with a seal.

Download:

• form of certificate of paid share
• sample certificate of paid share in housing cooperative

Share payments

Payments are made within the time limits established in the document in the form of making payments to the cash desk or transfers to the cooperative's current account.

Payment documents are kept by the shareholder.

When the entire amount is repaid, a certificate of full payment is issued.

It is the basis for the transfer of real estate to the shareholder.

Certificate from the housing cooperative about the paid share

What is a housing cooperative certificate? The certificate does not have a specially approved form. This will look different in different organizations.

It is filled out on a regular sheet and must be recorded as a strict reporting document in the housing cooperative. At the time the certificate is issued, ownership of the apartment is established.

You can obtain it by contacting the board with an application. To do this, you need to have a passport and payment slips. The certificate is prepared within 5 days.

The header of the document indicates the name of the cooperative, its exact address, and basic details: INN, OGRN. The number of the outgoing document and the date of issue are required.

The following is the name of the document: Certificate of full payment of share contributions.

The text of the certificate contains the following mandatory details:

1. Shareholder's full name, passport details.
2. Date of admission to the cooperative.
3. Details of the minutes of the General Meeting on admission to the housing cooperative.
4. Date of payment of the entire share amount.
5. Share size.
6. Specific description of the property (address, apartment number, total area, living area).

The document indicates for which organization it was issued. The certificate is signed by the chairman and chief accountant of the cooperative with transcripts of their signatures. The stamp of the housing cooperative must be affixed.

Important! The certificate of payment of the share has no statute of limitations and cannot be replaced. If lost, a duplicate will be issued.

A sample certificate of a paid share of a housing cooperative can be found here.