Agreement on payment of unit contributions to the cooperative
A housing construction cooperative is a legal entity that is created to participate in the construction or reconstruction of a residential building and its subsequent operation. As a legal entity, a cooperative is created by individuals and / or legal entities, united on the basis of membership.
As a rule, buyers become associate members of the cooperative with an advisory vote, however, such a vote may not be taken into account when voting on accepting new members, selling apartments, buying materials and others. If the cooperative is liquidated, the associate member of the cooperative will have an advantage in the right to return the share, compared to full members of the cooperative.
To obtain an apartment in ownership, the shareholder makes an entrance fee and share in the cooperative in accordance with the charter and the agreement on the payment of shares. At the stage of signing the contract, the mechanism for the transfer of property rights is indicated: directly to the buyer or under an exchange agreement through a cooperative. Usually, after putting the house into operation, the housing cooperative draws up the ownership of the apartment, after which, under the barter agreement, they draw up the exchange of the share of the member of the cooperative for the apartment.
An agreement on the payment of share contributions to a cooperative is provided for by the Law of Ukraine "On Cooperation" and the norms of the Civil Code of Ukraine, but is not spelled out in Article 4 of the Law of Ukraine "On Investment Activity" as an acceptable mechanism for raising funds for housing construction.