Housing cooperative contributions (membership, target and others): what are they?

What is a share?

Share is financial assets that participants must pay on time. Shareholders pay contributions in exchange for the opportunity to use a certain part of the common property. As part of a housing cooperative, residents can jointly manage the property of the entire multi-storey building.

The funds transferred to the organization's fund in the form of share contributions are summed up and then, by decision of the community, used for repair work and the construction of additional buildings.

The tasks of the cooperative include paying utility bills and hiring workers. Responsibility for the correct use of funds rests with members of the management team.

A person who regularly pays a share contribution is a full participant in the housing cooperative. Not only individuals, but also legal entities can become members of the housing cooperative. A share of ownership of common property can be inherited, as well as transferred to other persons when making legal transactions, for example, when selling real estate.

How is the fact of depositing money recorded?

Payments for all types of contributions are recorded as follows::

the data is entered into the report for the audit commission;
an entry is made in the receipt journal;
The entry is recorded in the accounting book (read all about accounting in housing cooperatives here);
a document confirming payment is issued (citizens keep the receipt stub as proof of payment).

Nowadays, most payments are recorded in electronic systems. If all the share contributions established by the agreement have been made, the housing cooperative member acquires the right to own the property.

A certificate stating that the share has been paid is the only document confirming the right to an apartment. Such a certificate is issued by the chairman of the housing cooperative.

The certificate of payment of the share contains the following data:

Full name of the shareholder;
date of entry into the housing cooperative;
minutes of the meeting of the board of the cooperative on admission to its membership;
date of final payment of the share;
size of the paid share;
apartment address;
apartment area.

Who pays?

A shareholder is a person who owns a certain share of the common property and also regularly pays contributions. Everyone has the opportunity to become a shareholder. To do this, you must submit an application filled out according to the template established by law and obtain the approval of other members of the community.

It is important to obtain consent not only from the managers of the cooperative, but also from each of its participants. A person can become a shareholder only if his candidacy is approved at a meeting of the housing cooperative.

Contributions

Share contribution is a set amount that each participant in the housing cooperative must contribute to the fund. By paying a certain amount of money on time, each shareholder has the opportunity to use his own share in the common property at his own discretion, subject to compliance with current legislation.

The share contribution is established and collected for the following purposes:

Payment for the work of plumbers, repairmen, builders and other specialists hired to improve the territory.
Purchase of materials used for restoration work.
Planned repairs of the building, individual structures, public spaces.
Investment in profitable projects with the prior consent of community members.

Reference! At the meeting, the participants of the housing cooperative determine a clear amount that is paid regularly.

Residents often have to pay additional fees when unexpected expenses arise. The procedure for making payments, the amount of payments, and the possibility of determining additional contributions are prescribed in the charter of the housing cooperative. To become a shareholder, it is often necessary to pay several contributions at the same time.

What is a contract?

A share agreement is an official document confirming the tenant’s right to own a certain share of the common property. An agreement is signed when a person joins a housing cooperative and confirms the right to make decisions on important public issues together with other participants.

When joining a cooperative at the stage of constructing a multi-storey building, before signing the contract, you need to pay attention to the following aspects:

The name of the developer's company.
Authority of the organization. Find out whether the association is responsible for the construction of a residential building, is an investor, or performs these functions simultaneously.
Date of commissioning of the house.
Conditions for payment of funds.

Attention! It is necessary to carefully consider the status of housing cooperatives. If the responsibilities of the investor and the developer are performed by different organizations, you should familiarize yourself with the terms of the agreement that they signed among themselves.

It is necessary to make sure that there is a clause on termination of the contract in the event that one of its participants does not fulfill its obligations or does so untimely.

Before joining a cooperative, you should carefully study important documents. Familiarize yourself with the contents of these papers:

A certificate confirming the developer’s right to own the land plot.
Documentary confirmation of the official registration of housing cooperatives.
Project declaration.
Permission from government authorities to carry out construction work.
Charter of housing cooperatives.

When joining a housing cooperative, you need to check that the share agreement contains the following clauses:

Frequency of payment and exact amount of mandatory payments.
Full information about the living space, which is assigned to the shareholder upon joining the housing cooperative.
Information about the owner of the land plot used for the construction of an apartment building.
Conditions for the withdrawal of a share from a housing cooperative.
General condition of the apartments upon delivery. It is advisable to clarify the materials used, the presence of cosmetic repairs, and internal communications.

Who is a shareholder and who has the right to become one?

Article 111 of the Housing Code of the Russian Federation states that all citizens over 16 years of age, as well as legal entities, have the right to become members of housing cooperatives.

There are housing cooperatives consisting only of legal entities, only of citizens, and of citizens together with legal entities.

The creation of housing cooperatives can be facilitated by state authorities of the Russian Federation and local self-government. In this case, citizens who are registered in the established order as in need of improved housing conditions have a priority right to join a housing cooperative.

Thus, a citizen of any country who has made entrance and share contributions , while complying with the Charter (the founding document of the housing cooperative), can become a shareholder. A citizen or legal entity submits an application to join the board of housing cooperatives. After consideration of the application and approval at the general meeting, a decision is made - to accept membership in the housing cooperative or to refuse it, and if the decision is positive, then the right to become a shareholder is granted from the moment the entrance fee is paid. Read about the application to join and leave the housing cooperative, as well as about the complaint here.

Assignment

The assignment of a share in a housing cooperative is an analogue of a purchase and sale transaction in which a cooperative participant sells the share of real estate assigned to him. To conclude such a transaction, it is necessary to confirm that the cash contributions under the housing cooperative agreement have been fully paid.

To become a member of a housing cooperative, you must not only go through the assignment procedure, but also join the cooperative. After concluding an agreement on the assignment of a share, it is necessary to obtain a positive decision of the cooperative participants, adopted at a meeting.

To eliminate possible risks associated with the loss of funds in the event of a negative decision of the shareholders, when signing the agreement, make sure that there is a clause on the possibility of returning the paid funds.

Important! An application to join the cooperative is submitted to the chairman of the board immediately after concluding an agreement on the assignment of a share. If the management team is headed by a developer, in most cases there are no difficulties associated with the process of assignment of rights to own real estate.

After successfully resolving the issue of joining a housing cooperative, the new owner must register the right to a share in accordance with current legislation. To do this, you must submit the following documents to Rosreestr:

Applicant's passport.
A copy of the apartment order.
Executed cadastral passport.
Certificate of payment of a share in a housing cooperative.
Receipt for repayment of state duty.

Registration of property rights is completed within 18-120 days. The new owner of the living space can move in immediately after receiving the keys. The cost of the share assignment procedure is 30,000-100,000 rubles. The exact amount is specified in the housing cooperative's charter.

Often the new owner is required to pay additional contributions:

Entry fee.
Standard fee in accordance with the agreement.
Payment of utilities and other services.

Document confirming the payment of a share in GSK

To obtain a certificate of payment of share contributions, you need to contact the Civil Code department and write an application. The Charter of the Civil Code regulates the deadlines for issuing certificates. It must contain comprehensive information about payments.

Full name physical Persons/or registration data of a legal entity.
Date of joining the cooperative association.
Total amount paid.
The exact date of redemption of the share.
The exact address of the garage/box.

IMPORTANT: in any organization, and on their websites, there is information about what documents are needed, and what exactly the certificates should look like, as well as additions to them (receipts, for example).

Why do you need a payment certificate?

Upon payment of the initial contributions, the housing cooperative participant acquires the right to own a certain property. If you try to challenge this right, the owner will present a certificate confirming payment of the share.

This way the apartment owner can protect himself from attacks on his property. Immediately after payment of contributions, you must take this certificate from the board. A certificate of payment of a share in the cooperative fund is a title document assigning a specific property to a housing cooperative participant.

Make sure that the certificate contains the following information:

Full name of the cooperative member.
Date of entry into the housing cooperative.
Identification data of the minutes of the general meeting at which a positive decision was made to install a new shareholder.
The full amount of the share.
Address of the apartment assigned to the tenant.
The area of the property.

The form for filling out the certificate can be obtained from the secretariat of the organization. The chairman is obliged to check the correctness of the information entered, then sign and seal.

On our website you can find other useful articles related to housing cooperatives:

Pros and cons of a housing construction cooperative.
Reorganization and liquidation of housing cooperatives.
Accounting for the activities of a housing construction cooperative.

Drawing up a document on the payment of a share for an apartment

The certificate does not have an approved form. Most often, it will look different in different organizations. It is drawn up on a simple sheet of paper and is a document of strict accountability in the housing construction cooperative.
At the time of transfer, ownership of the apartment is established.
The header of this document indicates the name of the housing cooperative, the exact legal address, details: taxpayer identification number and main state registration number. It is imperative to include the outgoing document number and the date of its issue.
Next, you need to indicate the name of the document: Certificate of full payment of share contributions.
Her form for the payment of a share in the housing cooperative must necessarily contain the following information:
Last name, first name, patronymic of the citizen to whom the document is issued.
Passport details of the citizen to whom the document is issued.
Place of residence of the applicant.
Address data of real estate (address, apartment number).
Description of this property (area of this apartment).
Initials of a member of a housing construction cooperative.
The amount of the share contribution (in words and figures).
Date of payment of the share contribution.
Entry date of the association.
Details of the minutes of the meeting at which the decision to join the housing construction cooperative was approved (you can find out about the nuances of holding a housing cooperative meeting here).
Signature of the Chairman of the Board.
Signature of the Chief Accountant.
There must be a “wet” seal of the housing construction cooperative.
A sample share certificate must be obtained from the organization’s secretariat.
Next, the document will be checked in accordance with the data and the true state of affairs.

Attention! The certificate of payment of a share has no statute of limitations. It cannot be replaced. If lost, you can get a duplicate.