How to buy an apartment in a building under construction

What it is?

Members of a housing cooperative can be citizens of the Russian Federation who have reached the age of 16, as well as legal entities that are both the owners of all housing in the house and individual residential premises.

Each member of the housing cooperative guarantees its existence and the fulfillment of its obligations with the help of personal funds, the collection of which is in charge of the meeting of the founders of the housing cooperative.

To create a housing cooperative, a meeting of five homeowners who own apartments in an apartment building is sufficient. In this case, each member of the cooperative undertakes to timely make a certain monetary contribution to the common fund.

This contribution in legal literature is called a share. A share in a housing cooperative is the contribution that gives the right to dispose of that part of the common property for the use of which funds were contributed.

By creating a housing cooperative on a share basis, citizens actually become the owners of an apartment building and are responsible for the actions of the cooperative in the use and timely payment of utilities, the labor of hired workers, and the like. A share can belong to one person or to several individuals and legal entities .

The share can be inherited, repurchased, or assigned to third parties . The heirs of a share can be close relatives of a member of a housing cooperative who have rights to a share in the share and live together with the shareholder.

The preferential right to join a housing cooperative, and therefore to receive residential property at its disposal, is vested in the wife, children and close relatives of a deceased member of the cooperative.

A share gives the right to receive housing in an apartment building, but is not the housing itself , since one share can be owned simultaneously by several persons. Having a share presupposes obtaining ownership of housing, if the opportunity arises.

The main condition for dividing a multi-apartment building under construction or already commissioned into shares is that the number of shareholders cannot exceed the number of available apartments .

Subject of the agreement

1.1. Under this agreement, the Owner transfers (assigns) to the Acquirer his share (share accumulation) in the mutual fund of the garage construction cooperative [name] in the amount corresponding to the right to receive ownership of the property complex in the form of a garage box N [value], with a total area of ​​[value] sq.

1.2. The owner guarantees that he was properly and in accordance with the requirements of the Charter of the garage-building cooperative [name] (hereinafter referred to as the Cooperative) notified the Cooperative of his intention to transfer (assign) his share (share accumulation).

The cooperative agreed to the transfer (assignment) of the share (accumulation) to a third party who is not a member of this Cooperative.

1.3. The acquirer of a share (share accumulation) exercises the rights and performs the duties of a member of the Cooperative from the moment the Cooperative is notified of the specified transfer (assignment) of the share (share accumulation) and the payment of the entrance fee by the Acquirer.

1.4. All rights and obligations of a member of the Cooperative, including those arising before the assignment of this share (share accumulation), are transferred to the Acquirer.

Who is a shareholder?

A shareholder of a housing cooperative is a member of a housing cooperative who owns a share and makes timely share contributions . Shareholders can be both individuals and legal entities.

To become a shareholder, it is enough to submit an application in the established format to the board of the housing cooperative. Members of the housing cooperative are given at least a month to consider the application and make a decision.

The candidacy of an applicant for a share in a housing cooperative must be considered at a general meeting.

Sample application for joining a housing cooperative

A citizen who has expressed a desire to join the cooperative becomes a shareholder after his application is approved and he makes an entrance fee to the general fund of the cooperative.

When submitting an application to join a housing cooperative or housing cooperative, you must obtain a receipt confirming its receipt by the management of the housing cooperative.

The presence of a receipt guarantees that the transaction to join the cooperative will be considered legal and legally existing. Otherwise, even if the shareholder makes all contributions and payments, his right to a share, in the absence of an application to receive it, may be disputed. The court considers such a transaction void; in this case, no refund can be expected.

Details and signatures

2.1.1. Transfer to the Acquirer a share (share accumulation) in the Cooperative's mutual fund.

2.1.2. The owner is considered to have fulfilled his obligations to transfer (assign) the share (accumulation) from the moment of signing this agreement.

2.1.3. Transfer to the Acquirer all documents certifying rights and obligations, including payment documents confirming payment by the Owner of all necessary entrance, membership and share fees.

2.1.4. Provide the Buyer with all information relevant for the exercise of rights and proper performance of the duties of a member of the Cooperative.

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2.1.5. Accept payment from the Acquirer for the share (share accumulation).

2.2.1. Pay the Owner the cost of the transferred share (share accumulation) stipulated by this agreement.

2.2.2. Within [meaning] days from the date of signing this agreement, submit to the Board of the Cooperative a corresponding application for admission as a member of the Cooperative.

2.2.3. Pay the entrance fee to join the Cooperative.

4.1. In case of non-fulfillment or improper fulfillment of their obligations under this agreement, the Parties shall be liable in accordance with the current legislation of the Russian Federation.

4.2. For violation of the deadline for payment of the share (share accumulation), the Acquirer shall pay the Owner a penalty in the amount of [value] percent of the value of the share (share accumulation) for each day of delay.

What is a share contribution to a housing cooperative?

The share contribution of a housing cooperative, or share, is a sum of money contributed to the general fund of the cooperative by the shareholder . Gives the right to use a share in the common property of members of the cooperative and subsequently become the owner of the property.

By submitting an application to join a housing cooperative and paying the entrance fee, a citizen has the right to expect to be provided with living space corresponding to the amount of money contributed for his personal use.

The functions performed by shares in a housing cooperative may be as follows:

• cash contributions go to pay for the services of janitors, cleaners, plumbers, electricians and other housekeeping personnel;
• from the total cash contributions, an amount is allocated to pay for the repair of the entrance, roof and house as a whole, and improvement of the local area;
• The chairman of a housing cooperative, with the general consent of the majority of its founders, can use the share capital to invest in a business, the dividends from which will be distributed among all shareholders.

Share contributions can be one-time or permanent . The procedure for making them is determined by the charter of the housing cooperative. As a rule, to acquire the status of homeowner in an apartment building, you need to make several share contributions.

But this circumstance does not mean that until all funds are fully paid, the citizen must remain on the street; he can live in the premises allocated to him and make share contributions within the time limits established by the agreement concluded between him and the housing cooperative.

After paying the entire share contribution, the citizen becomes the owner of the home , while remaining a member of the housing cooperative. The board of the cooperative has the right to oblige shareholders to make additional share contributions.

New building under a share accumulation agreement

Each time this becomes more and more difficult to do, so housing cooperatives are forced to undertake various kinds of advertising and marketing campaigns, participate in the construction of riskier objects with an unreasonably low cost, thereby further reducing the degree of reliability of the scheme in question. In addition, judicial practice is based on the impossibility of collecting a penalty upon leaving a cooperative.

Thus, in one of the cases, it was noted that since corporate (membership) relations arise between a housing cooperative and its member, regulated by the charters of these organizations, and neither the contract nor the law provides for a penalty for improper fulfillment of an obligation in this case, there are no grounds for satisfaction the plaintiff's demands for the recovery of penalties.

Agreement

A share agreement in a housing cooperative, or an agreement for participation in shared construction, is a legal document, after signing which a citizen acquires the right to part of the living space in a house under construction.

Before signing an agreement, it is necessary to carefully study all aspects of the existence of a housing cooperative , namely:

• whether the housing cooperative is both an investor and a housing developer;
• who carries out the development;
• when is the housing delivery planned?
• What are the conditions for making share contributions?

If the investor and the housing developer are different legal entities, it makes sense to study the agreement concluded between them . Particular attention should be paid to the presence in it of a clause regarding possible termination in the event of failure by the investor to fulfill its obligations.

The presence of this clause means that if the founders of the HOA fail to comply with the agreement concluded with the developer, the latter has the right to curtail the work and refuse further cooperation , which may lead to the freezing of construction and the disintegration of the HOA with the withholding of the contributed shares.

Such agreements should be treated with extreme caution and, unless necessary, do not enter into an agreement with the cooperative on shared participation in construction.

Also, before concluding an agreement, it is worth checking the documents of the cooperative itself , paying attention to:

• availability of a certificate of land ownership;
• the presence of clear and acceptable terms of the Housing Cooperative Charter;
• availability of a document confirming the inclusion of housing cooperatives in the special register of housing construction cooperatives;
• availability of a design declaration;
• expiration of the development permit.

If a share agreement in the HOA is nevertheless concluded, care must be taken to ensure that the following information is included in it :

• there was a clear indication of when, for what period and in what amount share contributions would be paid;
• it was indicated what specific living space the shareholder could count on upon completion of construction;
• the contract must contain information about who owns the plot allocated for construction, what its exact area is, the number of floors and apartments in the house, the actual address of the location of the new house;
• the cost of leaving the housing cooperative was indicated;
• there was an indication of the condition in which the housing cooperative member would accept the finished apartment, whether it would be a gray option, or whether the apartment would need to be renovated.

The last point is of particular importance , since it allows you to avoid fraud on the part of an investor who wants to save on finishing finished housing and renting out a house without interior finishing, the funds for which were withdrawn in the form of share contributions.

Housing cooperative share agreement

Contract price and payment procedure

3.1. The cost of the share (share accumulation) transferred under this agreement to the Acquirer is established by the Parties in the amount of [in figures and words] rubles.

3.2. The acquirer pays the cost of the share (share accumulation) within [value] days from the moment the Parties sign this agreement by [transferring funds to the Owner’s bank account/transferring cash to the Owner].

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3.3. The Acquirer's obligation to pay the cost of the share (share accumulation) is considered fulfilled from the date [the debit of funds from the Acquirer's bank account/receipt of funds to the Owner's bank account/at the time of transfer of funds to the Owner and receipt of a receipt from the Owner for receipt of cash].

5.1. Disputes and disagreements that may arise during the execution of this agreement will, if possible, be resolved through negotiations between the Parties.

5.2. If the Parties do not reach an agreement, disputes will be resolved in court in accordance with the current legislation of the Russian Federation.

Assignment

Wanting to build a residential apartment building, but not having the funds to start construction, an investor can organize a housing cooperative, whose members will sponsor the construction with a certain amount of contributions. It is assumed that after completion of construction and payment of all share contributions by a member of the housing cooperative, he receives ownership of the apartment.

But there are often cases when a shareholder does not have the opportunity to take ownership of housing, which entails exclusion from the housing cooperative and the loss of part or all of the money already contributed. To avoid this, the shareholder has the right to sell - transfer the share to the housing cooperative .

The transfer of a share involves the conclusion of a purchase and sale agreement , the main condition of which is the availability of a free apartment with fully paid share contributions.

The procedure for transferring a share in a housing cooperative is not quite usual; the buyer should know that when purchasing an apartment from a member of the housing cooperative, he risks losing money and not receiving the property that belongs to him , which is due to the peculiarity of the very existence of the housing cooperative.

Thus, in order to own housing that is in common cooperative ownership, you must be a member of the housing cooperative.

At the same time, the transfer of housing cooperatives does not give the right to automatic inclusion in the composition of homeowners , since admission to membership in the housing cooperative is carried out only after consideration of the relevant application by the meeting of founders. If the meeting of the founders of the housing cooperative makes a negative verdict, the acquirer of the transferred share will be left without housing.

To avoid possible risks of losing the money paid, the buyer of the transferred share must take care to include in the purchase and sale agreement a clause on the return of funds in the event of a refusal to accept membership in the housing cooperative.

In addition, the conclusion of a share purchase and sale agreement must be accompanied by the writing of an application for withdrawal from the cooperative on the part of the seller and about joining the cooperative on the part of the buyer. The application is sent to the chairman of the cooperative. If the developer himself acts in this capacity, there should be no problems with the transfer of the share and the buyer is guaranteed to receive the apartment.

Applications for leaving the housing cooperative

After concluding a purchase and sale agreement and becoming a member of the cooperative, the new shareholder must formalize his ownership of the share by submitting the following documents to the Rosreestr management:

• passport;
• receipt of payment of the duty;
• a certificate from the housing cooperative confirming payment of all share contributions;
• cadastral passport;
• a photocopy of the order for the apartment.

Registration takes from 18 days to 4 months . You can move into the apartment immediately after receiving the keys to the property; usually, check-in occurs before all official paperwork is completed.

The cost of preparing documents for the transfer of rights to a share on the part of the developer is established by the constituent meeting of the housing cooperative and is stated in its charter. Usually it fluctuates between 40 and 100 thousand rubles. This amount is withdrawn from the purchaser of the share, or from a citizen who decides to leave the cooperative.

Sometimes the exact amount of compensation is not specified in the charter of the housing cooperative , but when the share contributions are returned to the shareholder leaving the cooperative, the housing cooperative retains at least 10% of their total amount. It is assumed that the shareholder must compensate for the withholding from the funds received from the buyer of the apartment.

The acquirer of the transferred share may also be required to make some additional expenses , for example:

• payment of a fee for becoming a member of the cooperative;
• when purchasing a share in a house under construction, you may be required to make an additional target contribution under the share agreement;
• payment of documents out of turn;
• payment for service personnel;
• when transferring money, the bank may require the purchaser of the share to pay a commission;
• after construction is completed, the final area of ​​the apartment may be larger than stated in the contract, which will require additional costs to pay for the area not provided for.

The total amount of all additional payments can reach up to 60 - 100 thousand rubles , which calls into question the benefits of purchasing a share in a housing cooperative on a transferable basis.

1. Subject of the Agreement
1.1. In order to meet the needs of the Shareholder for housing, the Shareholder joined the housing cooperative participating in the investment of construction _________________________ at the address: __________________________, cadastral number ______________ (hereinafter referred to as the Object), in order to receive ownership of the apartment in the future, subject to full fulfillment of obligations to pay the entrance fee , membership, share and additional (targeted) contributions in the amount, procedure and terms established by the Charter, internal provisions of the housing cooperative and this Agreement. 1.2. The apartment has the following characteristics: 1.2.1. House number _________. 1.2.2. Entrance number ________. 1.2.3. Apartment number __________. 1.2.4. Floor _________. 1.2.5. Total area - _________ sq. m. 1.2.6. Number of rooms - __________. 1.3. The area of ​​the Apartment specified in paragraphs. 1.2.5 of this Agreement is a design and will be clarified after the delivery and commissioning of the Facility and receipt of data from technical inventory authorities (BTI). 1.4. The housing cooperative invests the funds of the Shareholders in the construction of the Facility on the basis of a co-investment agreement concluded between the housing cooperative and the developer - __________________________ (hereinafter referred to as the Developer). 1.5. The estimated date of commissioning of the Facility is no later than ______________________. 1.6. The date of commissioning of the Facility is considered to be the date of issue of the commissioning permit. 1.7. The deadline for obtaining a commissioning permit specified in clause 1.5 of this Agreement may be changed if the relevant administrative legal act is issued. 1.8. The address of the residential building specified in this Agreement is a construction address; after the residential building is put into operation, it will be assigned a postal address. 1.9. The apartment specified in clause 1.2 of this Agreement will be transferred without finishing/with finishing.

2. Obligations of the Parties

2.1. Housing cooperative undertakes: 2.1.1. Invest the Shareholder's funds in the construction of the Facility. 2.1.2. After the Shareholder has made full payment of the entrance, membership, share and additional (targeted) contributions, including recalculation as a result of BTI measurements, provide the Shareholder with a certificate of full payment of the share. 2.1.3. Not later than _____ (__________) business days from the date of putting the Object into operation, notify the Shareholder about this, providing the number of the Apartment, the postal address of the Object, as well as the date, timing, and procedure for transferring the Apartment to the Shareholder. 2.1.4. Warn about the need to accept the Apartment and about the consequences of inaction when evading acceptance in accordance with the current legislation of the Russian Federation. The message must be sent by registered mail with a list of the contents and a receipt notification to the address specified by the Shareholder or delivered personally against signature. 2.1.5. Organize the transfer of the Apartment to the Shareholder under the Transfer and Acceptance Certificate in the manner and on the terms specified in this Agreement. 2.1.6. If the Shareholder does not accept the Apartment, notify the Developer about this and, with his participation, draw up a defective statement, which indicates the non-compliance of the Apartment with the requirements provided for in this Agreement, and also require the Developer to eliminate the identified deficiencies. 2.2. The shareholder undertakes: 2.2.1. Make entrance, membership, share and additional (targeted) contributions in a timely manner and in the established amounts in accordance with the terms of the Charter, internal provisions of the housing cooperative and this Agreement. 2.2.2. Upon receipt of the corresponding written notice (Notice of Appearance) from the housing cooperative, arrive or send your authorized representative and sign the Acceptance and Transfer Certificate of the Apartment within the period specified in the Notice of Appearance, but no later than ______ business days from the date of receipt of such notice from the housing cooperative and _____ workers days from the date of sending the relevant notice, depending on which of these events occurs first. 2.2.3. Independently register your ownership of the Apartment or entrust its registration to a third party on the basis of a separately concluded agreement. 2.2.4. Before registration of ownership, do not carry out work in the Apartment related to deviations from the project (redevelopment, erection of internal partitions, wiring of all utilities, electricians, punching openings, niches, grooves in walls and ceilings, etc.), do not carry out reconstruction or redevelopment without the written permission of the housing cooperative and the Developer, do not carry out work in the Apartment and in the residential building itself that affects the facade of the house and its elements (including any glazing of loggias, installation of any devices and structures outside the building, any work affecting the appearance of the facade structures residential building) without written permission from the housing cooperative and the Developer. 2.2.5. On the day of signing the Acceptance and Transfer Certificate for the Apartment, enter into an agreement on maintenance and operation with the organization authorized to perform the functions of managing the residential building; timely and in full pay the costs of maintaining the Apartment (utilities, maintenance, security, etc.) starting from the day of signing the Transfer and Acceptance Certificate. 2.2.6. Before registering ownership of the Apartment, the Shareholder undertakes to provide the housing cooperative with a certificate from the operating (management) organization indicating that there are no debts in payment for utilities and other costs associated with the operation of the residential building in which the Apartment is located. 2.2.7. Transfer rights and obligations under this Agreement (assign your rights and obligations) to other members of the housing cooperative and third parties in accordance with the charter of the housing cooperative, internal regulations of the housing cooperative, decisions of the housing cooperative bodies, this Agreement, subject to full payment of all share contributions and the absence of debt on the entrance , membership, additional (targeted) contributions and other debt on payments provided for in this Agreement. In this case, the housing cooperative does not pay the contributed value of the share to the member who has assigned his rights and obligations under this Share Accumulation Agreement. 2.2.8. Use the Apartment exclusively for its intended purpose and keep it in full working order and in proper sanitary condition. 2.2.9. To appear in a timely manner when notified by the housing cooperative to resolve organizational issues regarding the implementation of this Agreement or to send your authorized representative. 2.2.10. Comply with the provisions of the current legislation of the Russian Federation, the Charter of the housing cooperative, the internal provisions of the housing cooperative, decisions of the Board, the General Meeting of members of the housing cooperative and the terms of this Agreement.

3. Amount of contributions and procedure for making them

3.1. The total amount of contributions to be made by the Shareholder under this Agreement is _____ (__________) rubles and includes: 3.1.1. Entry fee in the amount of _____ (__________) rubles. 3.1.2. Membership fee in the amount of _____ (__________) rubles. 3.1.3. Share contribution in the amount of _____ (__________) rubles. 3.2. The cost of one square meter of the Apartment, including summer premises (taking into account the reduction factor), is _____ (__________) rubles and is not subject to change during the construction and commissioning of the Property. 3.3. The shareholder undertakes to pay the housing cooperative contributions specified in clause 3.1 of this Agreement in the following order: 3.3.1. Entry fee in the amount of _____ (__________) rubles no later than “__”___________ ____ 3.3.2. Membership fee in the amount of _____ (__________) rubles no later than “__”___________ ____ 3.3.3. Share contribution in the amount of _____ (__________) rubles no later than “__”___________ ____ 3.4. Payment of each of these contributions is made by the Shareholder in separate payment documents indicating in the purpose of payment the name of the contribution to be paid in accordance with clauses 3.1 and 3.8 of this Agreement. 3.5. Payment under this Agreement is made by the Shareholder by transferring funds to the settlement account of the housing cooperative. The payment obligation is considered fulfilled by the Shareholder from the date of receipt of funds to the settlement account of the housing cooperative. 3.6. Payment of the payments provided for in this Agreement is made by the Shareholder personally, on his own behalf; payment of the Shareholder's contributions by third parties, regardless of the purpose of the payment, is not permitted. 3.7. The amount of the share contribution specified in paragraphs. 3.1.3 of this Agreement is subject to change in the event of adjustment (increase or decrease) of the approximate area of ​​the Apartment based on the results of measurements carried out by technical inventory bodies (BTI). 3.7.1. If the actual area of ​​the Apartment increases relative to the total project area specified in clause 1.2 of this Agreement, then the amount of the share contribution to be made by the Shareholder increases by the cost of the difference between the total project area and the actual area of ​​the Apartment. The amount of additional payment is calculated based on the price per square meter established in clause 3.2 of this Agreement. The amount subject to additional payment must be paid by the Shareholder of the housing cooperative within _____ (__________) banking days from the date of notification of the Housing Insurance Company to the Shareholder and the signing by the Parties of the Additional Agreement on the recalculation of the share contribution. 3.7.2. If the actual area of ​​the Apartment decreases relative to the total project area specified in clause 1.2 of this Agreement, then the amount of the share contribution to be made by the Shareholder is reduced by the cost of the difference between the total project area and the actual area of ​​the Apartment. The calculation of the amount of the refund is carried out at the price per square meter established in clause 3.2 of this Agreement. The amount to be paid is returned to the housing cooperative to the personal account of the Shareholder specified in this Agreement within _____ (__________) banking days from the date of notification of the Shareholder and signing by the Parties of the Additional Agreement on the recalculation of the share contribution. 3.8. In addition to the funds specified in clause 3.1 of this Agreement, the Shareholder undertakes to pay additional (targeted) contributions in the manner prescribed by the Charter of the housing cooperative. The shareholder undertakes to comply with the deadlines for payment of additional (targeted) contributions provided for by the Charter of the housing cooperative and the decisions of the General Meeting of members of the housing cooperative.

4. Conditions for acceptance and transfer of the Apartment

4.1. The procedure for transferring the Apartment to the Shareholder: 4.1.1. Within _____ (__________) business days from the date of putting the Object into operation, the housing cooperative undertakes to notify the Shareholder in writing about the procedure and timing of the transfer of the Apartment by sending a notice of appearance. 4.1.2. The notice of appearance is sent by mail, by registered mail with a list of the contents and a notification of delivery to the address specified by the Shareholder, or it is delivered to the Shareholder personally against signature. 4.1.3. The transfer of the Apartment to the Shareholder is carried out after the housing cooperative (represented by the Chairman of the Board) receives a message from the Developer about the completion of construction and the readiness of the Apartment for transfer, but no later than _____ (__________) business days from the date of receipt of such notice by the housing cooperative. 4.2. The procedure for accepting the Apartment by the Shareholder: 4.2.1. The shareholder undertakes to accept the Apartment under the Transfer and Acceptance Certificate within the period specified in the notice of appearance, but no later than _____ (__________) business days from the date of receipt of such notice from the housing cooperative and no later than _____ (__________) business days from the date of sending the relevant notice, in depending on which of these events comes first. 4.2.2. The shareholder undertakes to appear on time and at the address specified in the notice of appearance (or, if such terms are not specified, within the time limits established in clause 4.2.1 of this Agreement), or if personal presence is impossible, ensure the appearance of a representative whose authority is confirmed notarized power of attorney. 4.2.3. In the event of failure by the Shareholder to fulfill its obligations to accept the Apartment, provided for in paragraphs. 4.2.1 and 4.2.2 of this Agreement, the Apartment is considered transferred to the Shareholder, and the Shareholder is considered to have accepted the Apartment on the last day of the period specified in the notice of appearance, or, if such a period is not specified in the notice of appearance, on the last day of the period specified in pp. 4.2.2 of this Agreement. From this moment the Shareholder bears the burden of expenses for maintaining the Apartment, incl. pays utility and other operating payments. 4.2.4. The shareholder acquires ownership of the Apartment after full payment of the entrance, membership, share and additional (target) fees.

5. Responsibility of the Parties and force majeure circumstances

5.1. For failure to fulfill or improper fulfillment of obligations under this Agreement, the Parties bear responsibility under the current legislation of the Russian Federation. 5.2. If the Shareholder delays the fulfillment of its obligations to pay any of the contributions provided for in clause 3.1 of this Agreement, in the manner established by clause 3.3 of this Agreement, the housing cooperative has the right to demand from the Shareholder payment of a penalty in the form of a penalty in the amount of ____% of the unpaid amount for each calendar day of delay, starting from the day following the day when the obligation should have been fulfilled, but not more than ______________________. The housing cooperative's request to pay penalties must be in writing and signed by an authorized representative of the housing cooperative. In the absence of a properly completed claim, penalties are not accrued or paid. 5.3. In the event that the Shareholder fails to fulfill the obligation established in clause 2.2.4 of this Agreement, the housing cooperative has the right to require the Shareholder to pay a fine in the amount of ____% of the total amount of contributions specified in clause 3.1 of this Agreement, but not more than ______________________________. The housing cooperative's request to pay a fine must be in writing and signed by an authorized representative of the housing cooperative. In the absence of a properly completed request, no fine will be assessed or paid. 5.4. If the Shareholder delays the deadline for signing the Acceptance and Transfer Certificate of the Apartment, defined in clause 4.2 of this Agreement, the housing cooperative has the right to demand from the Shareholder payment of a fine in the amount of _____ (__________) rubles for each calendar day of delay, starting from the day following the day when the obligation should have been fulfilled, but no more than ______________________. The housing cooperative's request to pay a fine must be in writing and signed by an authorized representative of the housing cooperative. In the absence of a properly completed request, no fine will be assessed or paid. 5.5. The Parties are released from liability for partial or complete failure to fulfill obligations under this Agreement if this failure was a consequence of force majeure circumstances that arose after the conclusion of this Agreement as a result of extraordinary circumstances that the Parties could not foresee or prevent. 5.6. If the circumstances specified in clause 5.5 of this Agreement occur, each Party must immediately notify the other Party about them in writing. 5.7. The notice must contain data on the nature of the circumstances, as well as official documents certifying the existence of these circumstances and, if possible, assessing their impact on the ability of the Party to fulfill its obligations under this Agreement. 5.8. In the event of the occurrence of the circumstances provided for in clause 5.5 of this Agreement, the period for the Party to fulfill its obligations under this Agreement is postponed in proportion to the time during which these circumstances and their consequences apply. 5.9. If the circumstances listed in clause 5.5 of this Agreement and their consequences continue to apply for more than two months, the Parties shall conduct additional negotiations to identify acceptable alternative methods of execution of this Agreement.

6. Termination of membership and termination of the Agreement

6.1. A shareholder may be excluded from a housing cooperative based on a decision of the general meeting of members of the housing cooperative in the following cases: 6.1.1. Systematic (more than two times) improper fulfillment of obligations or failure to fulfill the obligation to make share, membership, additional (targeted) contributions or delay in payment of any of these contributions by more than _____ (__________) calendar days from the moment when the obligation to pay came due. 6.1.2. Repeated (more than two times) violation of the Housing Cooperative Charter, internal provisions of the housing cooperative, decisions of the housing cooperative bodies, this Agreement, rules for the maintenance of residential and non-residential premises, common property in a residential building in the construction of which the housing cooperative is investing. 6.1.3. Causing losses to the housing cooperative by one's actions/inactions, taking actions/inactions that discredit the business reputation of the housing cooperative. 6.2. The shareholder who has not fulfilled the obligation of paragraphs. 3.1.1 of this Agreement within the specified period, is not entered into the housing cooperative in accordance with the Charter of the housing cooperative, and this Agreement can be terminated at the initiative of the housing cooperative unilaterally out of court in accordance with clause 1 of Art. 450.1 of the Civil Code of the Russian Federation by sending the Shareholder a corresponding notice. The specified notification must be sent by registered mail with a list of the attachment to the Shareholder at the address specified in this Agreement. 6.3. This Agreement is considered terminated from the day when the Shareholder received or should have received a notification from the housing cooperative. 6.4. The exclusion of a Shareholder is carried out in the following order: 6.4.1. The Chairman of the Board of Housing Cooperatives sends to the Shareholder a written notification of violations committed by him by registered mail with return receipt requested. The shareholder is given _____ (__________) calendar days from the date of sending the notification to eliminate the specified violations. 6.4.2. If the specified violations by the Shareholder are not eliminated, then, on the initiative of the Chairman of the Board of the Housing Cooperative, an extraordinary general meeting of the members of the Housing Cooperative is convened in order to make a decision on the exclusion of the Shareholder from the Housing Cooperative. The moment of exclusion of a Shareholder from the housing cooperative is the date of adoption of the corresponding decision by the general meeting of members of the housing cooperative. 6.5. Contributions (introduction, membership, additional (target)) made on the basis of this Agreement and the Charter of the HGC by the Shareholder, both excluded from the HGC and upon his voluntary withdrawal from the HGC, with the exception of the contributed value of the share, are not subject to return. 6.6. A shareholder expelled from a housing cooperative is returned the contributed value of the share minus penalties and other debts provided for in this Agreement and the Charter of the housing cooperative within _____ (__________) days from the date of the decision of the general meeting of members of the housing cooperative on expulsion from the members of the housing cooperative. 6.7. In case of exclusion of the Shareholder from the housing cooperative on the basis of a decision of the general meeting of members of the housing cooperative, the housing cooperative unilaterally, out of court, terminates this Agreement (refuses to execute this Agreement unilaterally in accordance with clause 2 of Article 450.1 of the Civil Code of the Russian Federation). On the termination of this Agreement under the terms of this clause, the housing cooperative shall send a written notice to the Shareholder by a valuable letter with a list of attachments or by registered mail with acknowledgment of receipt, enclosing the decision of the general meeting of members of the housing cooperative on the exclusion of the Shareholder from the housing cooperative. In this case, this Agreement is considered terminated from the moment the decision of the general meeting of members of the housing cooperative is made to exclude the Shareholder from the housing cooperative. 6.8. If the Shareholder decides to voluntarily withdraw from the housing cooperative, the Shareholder submits a corresponding written application to the Management Board of the housing cooperative. The application of a member of the housing cooperative for voluntary withdrawal from the housing cooperative is considered by the Board of the housing cooperative within a period of no more than _____ (__________) days from the date of its receipt by the Board of the housing cooperative. The minutes of the meeting of the Board of the Housing Cooperative on the satisfaction (termination of membership in the Housing Cooperative) or refusal to satisfy the application of the Shareholder is subject to approval by the general meeting of the members of the Housing Cooperative. The moment of the Shareholder’s voluntary withdrawal from the housing cooperative is the date of approval by the general meeting of members of the housing cooperative of the minutes of the meeting of the Management Board of the housing cooperative on the termination of membership in the housing cooperative. 6.9. In the event of a voluntary withdrawal of the Shareholder, who has not paid the full share contribution, from the housing cooperative, on the basis of a decision of the general meeting of members of the housing cooperative, the housing cooperative unilaterally, out of court, terminates this Agreement (refuses to execute this Agreement unilaterally in accordance with clause 2 of Article 450.1 of the Civil Code of the Russian Federation) . On the termination of this Agreement in accordance with the terms of this paragraph, the housing cooperative shall provide the Shareholder with a corresponding written notice or send the Shareholder a written notice by a certified letter with a list of attachments or by registered mail with return receipt requested, enclosing the minutes of the Management Board of the housing cooperative and the minutes of the general meeting of members of the housing cooperative. In this case, this Agreement is considered terminated from the moment the general meeting of the members of the housing cooperative approves the minutes of the meeting of the Management Board of the housing cooperative on the termination of membership in the housing cooperative. 6.10. In the event of a Shareholder’s voluntary withdrawal from a housing cooperative, the procedure for returning both the fully paid and unpaid share contribution to the Shareholder, in respect of whom the general meeting of members of the housing cooperative approved the minutes of the meeting of the Board of the Housing Cooperation on termination of membership, is determined by the Board of the Housing Cooperation. The period for returning both the fully paid and unpaid share contribution must not exceed _____ (__________) calendar days from the date of approval by the general meeting of the members of the housing cooperative of the minutes of the meeting of the Board of the decision to terminate the Shareholder’s membership in the housing cooperative. Upon termination of membership in a housing cooperative due to voluntary withdrawal or expulsion of a Shareholder from the housing cooperative, the retired member of the housing cooperative has the right to receive the actual value of the share in the manner and within the time frames provided for by Federal Law of December 30, 2004 N 215-FZ “On Housing Accumulation Cooperatives” and (or) the Charter Housing cooperative. 6.11. When returning a share contribution to the Shareholder, regardless of the reasons for such return, the Shareholder has no right to demand interest accrual for the use of funds. 6.12. Termination of this Agreement entails the termination of the Parties’ obligations under it, including termination of the Shareholder’s right to receive the Apartment specified in clause 1.1 of this Agreement, but does not relieve the Parties from liability for violations, if any, occurred at the conclusion or during the validity period of this Agreement. Agreement. 6.13. The return to the Shareholder of the share contribution made by him after deducting from it the penalties provided for in this Agreement terminates the Shareholder's right to receive the Apartment specified in clause 1.1 of this Agreement. 6.14. Membership in the housing cooperative is terminated from the date of making the corresponding entry in the Unified State Register of Legal Entities in the manner prescribed by Federal Law dated December 30, 2004 N 215-FZ “On Housing Accumulation Cooperatives” and Federal Law dated August 8, 2001 N 129-FZ “On State Registration” legal entities and individual entrepreneurs."

7. Dispute resolution

7.1. All disputes and disagreements that may arise during the execution of the terms of this Agreement will be resolved by the Parties through negotiations. 7.2. Disputes that are not resolved through negotiations are resolved in court, established by the current legislation of the Russian Federation.

8. Final provisions

8.1. All changes and additions to this Agreement must be made in writing and signed by authorized representatives of the Parties. 8.2. The parties undertake to notify each other in writing of changes in details, addresses and other significant changes. 8.3. This Agreement has been drawn up in three original copies having equal legal force, one copy for the Shareholder, two copies for the housing cooperative, one of which is subject to transfer to the registration authority for registration of ownership of the Apartment. 8.4. Neither Party has the right to transfer its rights and obligations under this Agreement to third parties without the written consent of the other Party. 8.5. In all other respects that are not regulated by this Agreement, the Parties are guided by the current legislation of the Russian Federation.

9. Signatures of the Parties

Housing cooperative certificate about paid share: sample

After making the share contributions stipulated by the agreement, the member of the housing cooperative becomes the owner of the home, as mentioned above. However, under certain circumstances, ownership can be challenged .

To prevent this from happening, the shareholder is obliged to request from the chairman of the housing cooperative a certificate of payment of the share , which is the only document of title for the apartment owned by the housing cooperative.

A certificate of payment of a share of a housing cooperative is a document that must contain the following information:

• personal initials of the cooperative member;
• time of becoming a member of the cooperative;
• number of the minutes of the meeting of the cooperative, according to which the decision was made to admit it as a member;
• date of final payment of the share;
• share size;
• actual address of the apartment;
• apartment number;
• housing area.

A sample certificate of payment of a share in a housing cooperative can be obtained from the board.

The completed certificate is checked for accuracy of the information presented in it and certified by the signature of the chairman of the housing cooperative, indicating his full initials, as well as the seal of the cooperative.

If you want to learn more about the participation agreement, go here. Among other things, we provide you with information about differences from DDU, as well as:

• how accounting is done;
• right to join;
• ownership;
• as well as buying an apartment and mortgage.

You can leave the housing cooperative at any time for the sake of housing cooperatives.