Publication date: 29.05.2024
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A cooperative apartment is a form of housing ownership that is common in some countries, including Ukraine. The main difference between a cooperative apartment and a regular private apartment is the method of obtaining the right to housing and its ownership.
In the cooperative system, people join cooperatives (housing associations) that build or buy houses and apartments. Instead of buying an apartment individually, co-op members purchase membership or shares in the co-op. This membership or share allows you to use a specific apartment in a building owned by the cooperative.
Here is what is important to know about cooperative apartments in Ukraine:
1. Membership in a cooperative: Ukrainian apartment cooperatives are also based on membership. People join cooperatives to build or buy houses and apartments together.
2. Right of use: Membership in a cooperative gives the right to use a certain apartment in a building owned by the cooperative.
3. Fees for membership and maintenance: Members of the cooperative pay membership fees and other payments for the maintenance of the house, its repair and maintenance.
4. Right to sell: The member has the right to sell his membership in the cooperative and the right to use the apartment. The sale may be made in accordance with the rules established by the cooperative.
5. Management of the cooperative: Members of the cooperative participate in decision-making regarding the management and functioning of the cooperative through member meetings or elected bodies.
Although the system of cooperative apartments may be similar to other countries, the specific conditions, rules and procedures may differ depending on the internal rules of each cooperative and the legislation of Ukraine.
Is it necessary to privatize a cooperative apartment.
Privatization of a cooperative apartment in Ukraine can be a slightly more complicated procedure compared to the privatization of an ordinary private apartment.
Here are some key steps and aspects of this process:
1. Transfer of the apartment to personal ownership: First of all, it is necessary to transfer the ownership of the apartment from the status of membership in the cooperative to personal ownership. This usually requires the redemption of a membership fee or share in a cooperative.
2. Issuance of documents: After the transfer of ownership, it will be necessary to issue relevant documents in your name that confirm your right to the apartment.
3. Payment of the cost: It is usually necessary to pay a certain cost for the privatization of a cooperative apartment. This cost may include the membership fee, as well as other costs associated with the transfer of ownership rights.
4. Taxes and fees: Privatization may be subject to taxes and fees that must be paid in accordance with Ukrainian legislation.
5. Issuance of legal documents: After payment of the price and resolution of all administrative issues, it will be necessary to issue relevant legal documents confirming your ownership of the apartment.
These steps can seem complicated, so it is important to contact real estate professionals or lawyers experienced in the privatization of cooperative apartments for help and advice during this process.
