Condominium ownership is a form of collective and based on the activities of members voluntarily united for use of material and financial resources.High motivational potential of this form of ownership is due to the introduction of individual contribution (share).In turn, the cooperative ownership assumes many forms, here are some of them:
• Development in conjunction with the state-owned
• On the basis of the lease
• In the form of the industrial enterprises
• cooperative banks
• Consumer Cooperatives
• Credit cooperatives
•housing cooperatives.
-owned cooperative is in the full-fledged use, possession and disposal of all its members.Meeting members of the cooperative found its supreme governing body, in which each of them in decision-making has the right to a single vote.Based on this, we can conclude that, despite the fact that the co-operative form of ownership is private form - it is managed collectively by all members of the association.
Cooperative ownership, the foundation of which is the property independence of the charter (share) fund created through contributions by participants.A contribution is understood by each party at the time of registration documents in the public body at a rate that is available for the cooperative law or in full.Although the Civil Code does not provide for a specific size of the fund for the different cooperatives, it is clear that their minimum size will be significantly different, the need for legislative approval of the contributions to a particular species of the cooperative.For example, a cooperative created for the construction of a residential home, should have the mutual fund in the amount of the cost of fully providing for the costs of its construction.
The main disadvantage of this form of ownership is making more of shares, in the case where the main mutual fund can not cover all costs in order to achieve a certain result.Thus, the cooperative ownership obliges jointly bear subsidiary liability in the amount that has not been made, as referred to in para. 4 of Art.116 of the Civil Code, in the event of non-payment of an additional share.
However, when in fact, mutual funds were spent on the project is less than the participants made, they shall be returned to its members mandatory.In practice, often it turns out that the size of the authorized (share) capital of a cooperative, in fact turns out to be much higher than the estimated cost of new housing.As a result, participants receive a property with low cost in comparison with the Introduction of shares.
Privatization cooperative apartment includes a formal receipt of the document on the state registration, confirming the right to own property after a package of relevant documents to the Federal Registration Service.As the Co-op goes into full ownership of its owner immediately after their final repayment of the contribution and in fact already is his property.
Ownership cooperative eliminates the possibility of the illegal seizure of property belonging to them by organizations or individuals and have the right to claim immediately, to eliminate all violations on the issue of reimbursement for damage caused by the cooperative property as a result of misconduct.The right of cooperatives include possession, use and disposal, their property or use of the property to any other legal grounds.
