Fl cooperative, run as a condo, but docs r coop

Started by AdrianaS • 5 replies • 1443 views

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AdrianaS (California)
Posts: 48

Posted:

Back with part of the puzzle, with a FL not for profit corporation run by FL st 617,according to old docs but is a coop accoring to the articles of incorporation ? Yes,Donna, did suggest it was a condominium that turned into a cooperative. registered with the county as a coop. But that to my eyes, began as a condominium, turned into a cooperative,to later a Board of Directors decide it was better to be a condominium began to run it as such, but in paper the property continued to be a cooperative? So the confusion has been, are we 720, 718,617, I checked with a friend that ownes in cooperative apt building, and owners receive a certificate when they purchase, we never got that. Any one familiar with this mess in Fl.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Adriana,

What ever is filed with the Clerk of Courts is what needs to match the State records.on Not For Profit Corporation listing. It does not matter who thinks that you are a what. It is what is registered with the State. As I had suggested previously, someone down the line just did not file the paperworks, changing you to a co-op. Maybe you really are not a co-op. You need the State to intervine and inform your association who and what you are. It is really a simple thing to do.

Have you done a search on the State Not For Profit corp listings? That is the definitive answer so look it up there. There may be papers saying that you are a co-op or something else that were never filed properly. Your tax status with the State might never have been changed either.

AdrianaS (California)
Posts: 48

Posted:

Donna,

The articles of incorporation say, the purpose for which the corporation is organized is to operate and maintain that certain co-operative apartment building located at (our building information)?
But we dont have certificates or things like that? And the County Appraisers office, has us registered as a coop but we are not legally dont you think.

SusanW1 (Michigan)
Posts: 5,202

Posted:

this from bankrate-dot-com/condos

"In a cooperative says St. John, an attorney whose firm represents more than 600 condominium, cooperative, and homeowner associations, the building containing the residential units or apartments is owned by a 'cooperative housing corporation.'

"In a condominium, each unit owner owns an individual apartment in fee simple. In addition, the buyer owns an undivided interest in the common elements such as the exterior walls, roof, pool and other recreational areas."

Both have boards - what does the board say?

DonnaS (Tennessee)
Posts: 5,671

Posted:

Susan,

What Adrianne's original post was about is a difference between the Board members on what Statutes to follow. We have drifted from that question. The Board differs in some saying that they follow 718 which is condo and some saying 719, which is co-ops. There is a difference. Because there was a change from a condo corporation to a co-op, apparently there are documents that were not properly filed and changed. And then enter 617 which are ALL not for Profit corps Statutes.

AdrianaS (California)
Posts: 48

Posted:

Donna,
Definitely, our docs are a mess,and researching,when the condominium for profit corporation sold the buildings to the not for profit corp,in 1965,the new owners incorporated as a Cooperative, but never registered or managed as a coop,so is possible that we are nothing, not a coop,condominium, just a not for profit? Have you ever heard of anything like it. Wish us luck. And thank you for your knowledge and willingness to help others.

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