The legal, economic and organizational framework for the activities of housing savings cooperatives to attract and use Money citizens - its members for the purchase or construction of residential premises in order to transfer them for use and after making share contributions in full to the property of members of housing savings cooperatives, as well as guarantees for the protection of the rights and legitimate interests of citizens - members of housing savings cooperatives. Installed legal status housing savings cooperatives, the rights and obligations of their members, the procedure for the creation, reorganization and liquidation of housing savings cooperatives, as well as the procedure for their activities to attract and use citizens' funds for the purchase of residential premises.
The number of members of the cooperative cannot be less than 50 and more than 5 thousand people. Members of the cooperative bear the risk of losses associated with the activities of the cooperative within the limits of their share savings.
Establish requirements for providing financial stability cooperative activities. In particular, the amount of the part of the share contribution, after the payment of which the right to acquire or construct a dwelling by the cooperative for transferring it to the use of a member of the cooperative arises, cannot be less than 30% of the size of the share contribution of the member of the cooperative. The cost of acquiring rights to residential premises under construction in the manner of equity participation and the cost of residential premises being constructed by a cooperative should not exceed 20% of the value of the property of the cooperative. The minimum term for a member of a cooperative to make a part of the share contribution, after making which the right to acquire or construct a dwelling for a member of the cooperative arises, is determined by the charter of the cooperative. At the same time, starting from the second year of the cooperative's activity in attracting and using citizens' funds for the purchase of residential premises, the specified minimum period cannot be less than two years. A list of transactions that a cooperative can make only after obtaining the consent of the general meeting of members of the cooperative is given.
Constituent documents of previously established cooperatives and other organizations and engaged in activities to attract and use citizens' funds for the purchase of residential premises, with the exception of the constituent documents of housing and housing-construction cooperatives, shall be brought into line with the Federal Law within a year from the date of its entry into force.
the federal law enters into force ninety days after the day of its official publication, with the exception of a number of provisions for which a different period of entry into force is established.
In addition to the fact that the deadlines were delayed for a year, even now the house has not yet been connected to communications and has not been handed over management company. And the most difficult thing in this is to turn the situation in your direction. It's almost impossible to get your money back. How to find a buyer for such an apartment.
Blame it all construction of a housing cooperative under 215 FZ. It is for him that housing cooperatives usually conduct construction. And this is initially - the absence of any guarantees.
The main points that are fundamentally different from those on which developers act in shared construction. Initially, the housing cooperative has a specific judicial practice to resolve disputes between members of the housing cooperative. Initially, housing cooperatives have the right to operate outside the framework of 214 FZ. What does this mean?
In addition to the cost of square meters, you will have to pay entrance fees, which can grow up to 5 percent of the cost of the apartment. Wherein, membership fee the housing cooperative has the right to charge not only for the maintenance of the object, but also for its completion, if the money suddenly runs out.
Separate conversation about the contract. According to 214 FZ, the developer draws up only one contract, to which there may be annexes and additional agreements. In which the terms of construction, the cost of the object, and penalties are prescribed. The shareholder of the housing cooperative, in addition to the contract, is obliged to sign the charter. The normative provisions of which have nothing in common with the norms of civil obligations
And most importantly - when purchasing an apartment through a housing cooperative, you should not count on the law "On Protection of Consumer Rights". It just doesn't apply. Therefore, a buyer of real estate through a housing cooperative is legally much less protected than a shareholder who purchases an apartment from a developer.
Therefore, when buying real estate, first of all, you need to pay attention to the law under which the construction is being carried out. Previously, you can find out about the legality of the object on the website of the administration of Krasnodar. Objects being built with violations can be seen on the interactive map by clicking on the link Samostroi Krasnodar. But, even without finding an object there, it is worth clarifying information about the legality of the construction by calling 218-91-32 and 218-91-05.
Buying a new building in Krasnodar is not a problem. There is a lot of housing being built here, of different plans, size and quality, and in almost all areas. In Krasnodar, the construction of new buildings is carried out in accordance with the federal law 214-FZ or 215-FZ. Let's take a look at what these laws are, which one is better, and how to minimize risks.
Before you give your hard-earned money for a new apartment, it is better to study the laws by which the transaction is carried out. After all, this is not a typical sale and purchase, since the subject of purchase does not actually exist yet. Sometimes, instead of an apartment, there is only a cleared plot for construction or one foundation.
And now you, having paid the requested amount, are forced to languish in anticipation until the “right of demand” turns into a finished apartment.
New buildings according to 215-FZ
The acquisition of a new building through a housing construction cooperative (HBC) is a fairly common way to purchase housing in the primary market of Krasnodar and Adygea. This form of real estate purchase is quite legal. ZhSK is not a sharashka office and often houses are built quickly and well. The housing cooperative system in the Krasnodar Territory has existed for more than 20 years. But buyers are less protected by the state than when purchasing housing under 214-FZ. I'll explain why below.
Pluses 215-FZ
- 1. The main plus is that the cost of an apartment is lower than the same one purchased under 214-FZ. This is due to the fact that housing cooperatives do not have compulsory insurance for new buildings and contributions are not subject to VAT.
- 2. It is possible to use maternity capital and mortgages.
- 3. Despite the fact that there is no compulsory insurance, the buyer can independently insure the transaction in the insurance company of his choice.
Cons and risks of 215-FZ
- 1. Penalty for the broken deadlines for the delivery of housing in the housing cooperative is not provided. That is, you can plan to move into a brand new apartment this fall, but in fact get your housing in two years, and no one will pay you a penalty. And maybe everything will be built in time. No one can tell you exactly, and you take the risks.
- 2. If you terminate the agreement with the housing cooperative and sue, this does not guarantee the return of your money. HBC pays money only if he has funds in his account. No funds, no payments.
- 3. The law "On the Protection of Consumer Rights" does not apply to facilities built in accordance with 215-FZ.
New buildings according to 214-FZ
Under Law 214, the buyer enters into a contract with the developer or its representative Equity Agreement(DDU). Today it is the most secure way to buy a new building. From the very beginning, the buyer is under the protection of the state, because even before the developer gets the opportunity to conclude a DDU, he must assemble a package required documents. This is a certificate of ownership or a long-term lease agreement for land, and a building permit, and an expert opinion project documentation and many other documents. And they are not distributed to the right and to the left.
Pluses 214-FZ
- 1. The text of the DDU contains all the obligations of the parties to each other - terms, amounts, footage, the contract clearly defines not only the area, but also the number of the apartment. That is, you do not get some square meters, but a specific apartment. According to 214-FZ, at the time of signing the DDU, the equity holder automatically becomes a pledgee, while the collateral property on the part of the developer is the land on which the residential building is being built.
- 2. For non-compliance with the terms of delivery of the object specified in the shared construction agreement, the developer bears financial responsibility. In case of violation of the deadlines, the buyer has the right to force the developer to pay compensation through the court.
- 3. 214-FZ compels the developer to perform quality work, each object is covered by a five-year warranty, the obligations of which are covered by the developer.
Cons 214-FZ
Are there any drawbacks to 214-FZ? Alas, there is. There are no perfect laws and no one can get a 100% guarantee.
- 1. No law can guarantee that the house will be completed and the buyer will receive his apartment. The developer may have circumstances beyond his control that do not allow the completion of construction. In this case, the buyer will return only part of his money, but not the entire amount of the invested funds. The fact is that, according to 214-FZ, in case of bankruptcy of the developer, the equity holder becomes a creditor of the third stage - first, the salary requirements of workers at the construction site, the requirements of banks, etc. are satisfied.
- 2. The prices of apartments built under 214-FZ are usually higher than under other types of contracts - under the 215-FZ contract or from a private developer.
So, before giving money, carefully read the contracts, look at all the documents, find out the reviews, look at the ready-made objects. Take some time and be as safe as possible.
Buying a home for many people is considered a specific and complex process. Often they simply do not have the funds for such an acquisition. Under such conditions, people are often forced to take out a mortgage for a sufficiently long period of time at high interest rates. An excellent alternative is to join a housing savings cooperative. This organization is created by citizens who want to build apartment house or several similar buildings. Each contributor transfers during a certain period the necessary amount of funds for the purchase of an apartment. Joining such a cooperative has many advantages, although the process is not without some disadvantages.
Benefits of cooperation
If a citizen chooses a housing cooperative to buy housing, then he can really enjoy numerous advantages. These include the following:
- contributions in size are much less than in the end you have to overpay on a mortgage loan, and even with concessional lending;
- shareholders can choose an apartment in different houses, not only in those located in the city, but also in buildings located in other settlements;
- to join a cooperative, it is not required to prepare numerous documentation, which is necessary when applying for a large mortgage loan;
- the level of protection is considered high, therefore, even if the cooperative is declared bankrupt for various reasons, the housing will be sold at specialized auctions, where shareholders can buy it out, taking into account the previously transferred contributions;
- the flexibility of such cooperatives is considered high, since if, for various reasons, the financial situation shareholder, so he will not be able to fully make contributions, then the heads of the enterprise can help the citizen by selling him other real estate;
- additionally in case of deterioration financial condition the shareholder may increase the installment period;
- cooperatives do not turn to the Central Bank to obtain borrowed funds, since only the money of shareholders is used, therefore, payments are set without taking into account the current size of the refinancing rate.
Thus, due to such a cooperative, citizens can solve a complex housing issue. But at the same time, it is important to correctly approach the choice of the organization itself so that it is reliable and proven.
Cons of cooperation
Using the services of the organization has not only advantages. Some significant disadvantages of this process are highlighted, so buying a home at the expense of a cooperative has disadvantages:
- the selected residential facility will become the property of the citizen only after all contributions have been fully transferred to them;
- if for some reason the financial situation of the shareholder worsens, so he will not be able to make the due payments, then he will not receive housing;
- for the initial entry into the organization, it is necessary to pay an initial contribution, and it is usually significant, therefore it often amounts to even 50% of the cost of the selected object, but not all citizens can accumulate such an amount;
- it will take a long time to wait for the completion of construction and settlement in housing, and this process depends on how many shareholders join the cooperative.
You should choose large and developed organizations that are in demand among numerous shareholders.
ZHNK has significant pros and cons, so it is advisable to become a shareholder if you have a large amount of funds, and also if you are sure that the chosen organization is reliable. In addition, much attention should be paid to the choice of housing itself, since cooperatives usually offer several options.
Before entering into certain organization her reputation should be examined. It is optimal to read reviews about housing savings cooperatives from former equity holders in order to learn about all the pitfalls and features of cooperation.
Legislative regulation
The activities of such cooperatives are regulated at the legislative level. Basic information is contained in the Federal Law No. 215. This law was adopted back in 2004. It spells out legal framework the work of the enterprise, as well as the economic and organizational aspects of the activity.
The most important information in Federal Law No. 215 is the following:
- the rights and obligations that are vested in all citizens who become members of the cooperative are given;
- the procedure and rules for opening an organization are indicated;
- lists the nuances of the liquidation of the ZhNK and the reorganization of the institution;
- it is prescribed how the activities of the cooperative should be conducted, as well as how the funds received from the shareholders should be used.
All cooperatives should be engaged exclusively in the work that is prescribed by law. Housing savings cooperatives are created indefinitely, so there is no information about restrictions on the period of their existence. The organization is responsible for its obligations with all the property that belongs to it, but the company is not liable for the obligations of its participants. Based on the provisions of Federal Law No. 215, enterprises are allowed to open bank accounts. Additionally, there should be registers for each participant.
What is included in the register?
When opening a cooperative, new shareholders are attracted. A special register is formed for each new participant. It must include the following information:
- FULL NAME. a new member of the organization;
- information from a passport or other document with the help of which a citizen's identity is verified;
- phone number or other contact details;
- other information that is listed in the charter.
The main condition for the creation of a housing savings cooperative is that the number of participants must be equal to 50.
How is an organization registered?
The process of registering a cooperative is considered simple and fast. For this, the following steps are performed:
- initially, it is required to collect the required number of participants in the future cooperative who wish to receive their housing for permanent residence;
- held general meeting where the decision to open a company is made;
- the protocol of such a decision is correctly formed, containing the decision of the participants;
- the charter of the future organization is formed;
- collecting additional documents for registration;
- papers are transferred to the Federal Tax Service for registration, for which you will have to pay a fee;
- relevant information is entered into the Unified State Register of Legal Entities.
As soon as registration is completed, the company begins its direct activities aimed at creating apartments that are issued to equity holders after the payment of the entire contribution. It is allowed to combine several small cooperatives into one big company.
How to create a charter?
The main constituent document of such an organization is the charter. It can be formed according to different samples. The charter of a housing savings cooperative must include the following information:
- the name of the legal entity represented by the cooperative;
- type of activity of the enterprise;
- company location address;
- contact details of ZhNK;
- the size of the share initial contribution for all participants;
- duties assigned to all members of the association;
- It is stated that all citizens have subsidiary liability, therefore they are obliged to jointly cover all losses arising in the course of the enterprise's operation.
You can choose different legal forms, for example, LLC or OJSC. For this, it is taken into account whether the activity is commercial or non-commercial.
Commercial or non-commercial cooperative?
The most frequently chosen opening commercial organization. The board of the cooperative carries out activities for the purpose of making a profit. All investors can use their financial resources, which are directed to the construction of a residential facility.
As soon as an apartment building is erected, auctions are opened at which residential premises are sold, which makes it possible to partially reimburse all costs incurred. The lower floors are rented out, and it is this activity that in most cases brings the most high profit. Additionally, parking lots or the territory adjacent to the house can be subleased.
A non-profit housing and savings cooperative may also be opened. The work of such a company is not aimed at making a profit, so the main goal is to provide all participants with optimal living quarters for living. Through participation in such an association, the housing issue of citizens is solved. Only people in need of housing become participants. They are usually the initiators of the creation of a cooperative, therefore they are represented by members of the board.
What to do after registration?
As soon as the registration certificate is received from the Federal Tax Service, it is required to additionally notify the Pension Fund and other state funds about this.
For settlements with participants, a bank account is opened. A direct collection of funds begins, which are then directed to the purchase or construction of residential buildings.
How is the cooperative managed?
If necessary, the appropriate management company may be involved for management.
A board is necessarily organized to manage the cooperative. A chairman is elected from among the members of the board. He is endowed with numerous powers. The chairman of the cooperative is engaged in hiring workers in the state.
In the organization, in addition to the chairman, an accountant and a passport officer, as well as technical staff, should be employed. Residents of one house can additionally decide to allocate a rate to a concierge or an attendant. The organization draws up an agreement with the private security company to organize the protection of the facility.
All other members of the cooperative can act actively even if there is a chairman. They regularly take part in meetings, and also organize the activities of the enterprise on a gratuitous basis. They can make a decision regarding the need for reconstruction of the structure or the repair of the building.
Entry rules
Many people realize the value and profitability of acquiring housing with the help of such savings cooperatives. To become a member of a cooperative, it is required to carry out a rather complicated legal procedure. This requires permission from other participants.
According to the Federal Law on housing savings cooperatives, to join such an organization, the following actions are performed:
- Initially, an application for joining the association is formed;
- it is submitted to the chairman, after which this document considered by members of the cooperative;
- it is allowed to accept into the organization any citizen whose age is more than 16 years old, but minors must certify their application with their parents or guardians;
- a person wishing to become a member of the association must study all the provisions of the charter, and he is also notified of the amount of the initial contribution;
- then the approval process is carried out, for which a meeting of residents is held;
- each participant can speak about the need to admit a new member;
- a vote is held, the results of which decide whether the applicant will be accepted into the cooperative, and an open vote is required;
- the result of this vote is fixed by a special act, after which a protocol is formed;
- the drawn up documents are stored at the enterprise for five years, since it is on the basis of them that it is proved that a new member of the organization can register property and deposit various funds into the account of the organization.
As soon as the applicant becomes a member of the cooperative, he receives the right to dispose of the property owned by the company. This is due to the fact that he, together with other tenants, becomes the owner of the house. Since a joint form of ownership is used, each person must responsibly use the property and the surrounding area. Additionally, it is required to maintain a register of each member of the cooperative, where the arrival and departure of citizens will be recorded.
What are the rights and obligations of the members of the organization?
When creating such an association, all members are endowed with certain rights and obligations, which citizens should be aware of. The main rights are:
- order common property;
- participation in meetings to resolve numerous issues related to buildings;
- the purchase of housing for personal use, for which the full amount of the contribution is required;
- selection of members of the cooperative, members of the board;
- occupation different types activities aimed at managing common property;
- the right to vote, allowing to manage the association;
- resolving issues regarding the need for repair or reconstruction of the building;
- the use of various benefits provided for by the statutory documentation;
- distribution of income received as a result of the activities of the association;
- obtaining information about the results of the enterprise;
- sale, donation, exchange or inheritance of property, if it belongs to a citizen by right of ownership;
- if a person leaves the cooperative, then he can demand the return of his funds paid in the form of contributions;
- well-designed residential facilities are inherited.
But at the same time, each member of the cooperative has certain responsibilities. These include the fact that they must follow all the rules listed in the statutory documentation. All orders adopted at the meeting are binding. All contributions are paid without fail, the amounts of which are prescribed in the charter. For the building, each participant bears liability, as well as for other common facilities or adjacent territory. If unforeseen situations arise, then all members of the cooperative bear risks within the limits of available savings.
How is the share paid?
All contributions that are made to the account of the association are shares. Features of housing savings cooperatives are that a participant can become the owner of a residential facility only after the final payment of this share.
Upon initial entry into the association, it is necessary to transfer the entrance fee to the cooperative, and often its size is equal to half the cost of the apartment. Further, additional share payments are made periodically until the entire cost of the object is transferred to the company.
The size of the share is set at the opening of the enterprise, after which this information included in the founding documents. Until the share is redeemed, the organization acts as the owner of the apartment, so it can dispose of and use it.
Thus, housing cooperatives are considered to be in demand organizations whose activities are regulated by the provisions of Federal Law No. 215. The acquisition of apartments with the help of such associations has many undeniable advantages, although such a solution also has some disadvantages. Each person planning to purchase real estate in this way should carefully evaluate all the nuances of this process. It takes into account the need to immediately make an initial contribution when joining a cooperative, which is usually equal to half the cost of the apartment.
The impossibility of using mortgages to purchase their own housing by the general population has led to the legislative development of alternative options that make it possible to attract for these purposes not bank capital, but the own funds of persons wishing to purchase an apartment.
The financing mechanism was based on international experience, accumulated primarily in Germany, and Soviet experience in the creation of mutual aid funds.
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Structures designed to help citizens buy housing on alternative mortgage terms are called “housing savings cooperatives” (HSC), whose activities are regulated by Federal Law No. 215-FZ of December 30, 2004.
What relationships are regulated by law?
The law outlines the legal, organizational and economic aspects activities legal entities created for the accumulation and use of public funds for the construction or purchase of housing.
By participating in financing, a citizen becomes a member of the cooperative, acquiring, among other things, the rights and obligations to participate in the management of the organization, which, according to the legislator, should become the main insurance instrument for protecting his rights.
Federal Law No. 215 regulates:
- the algorithm for the creation of the ZhNK, its reorganization and liquidation;
- basic principles of work and mechanisms of financial stability insurance;
- rights and obligations of members of the cooperative and management bodies;
- measures of state control and guarantees to protect the interests of citizens.
ZHNK got the following features:
- attract financial resources of citizens who are members of the cooperative;
- purchase housing with the money of shareholders;
- participate in construction as a developer or shareholder;
- attract borrowed funds in the amount of not more than 40% of the value of the property owned by the cooperative.
The main idea embodied in the law is to provide regulatory opportunities for association financial resources citizens for the purpose of acquiring residential premises.
Basic provisions
Structurally, the law consists of six chapters and is structured as follows:
- Chapter 1 contains general provisions. Describes adjustable normative act relations, gives a deciphering of the concepts used, and also establishes the basic provisions of the ZhNK, its members, founding documents and the procedure for interaction between shareholders and a legal entity.
- Chapter 2 defines the procedures and mechanisms for the creation, reorganization, and liquidation of ZhNK. In particular, it was established that the number of members of the cooperative should be in the range from 50 to 5000 people. The possibility of reorganization is limited to the transformation into LCD, housing cooperative or condominium. It was determined that the supervision of the activities of the organization is entrusted to the Central Bank of the Russian Federation, which maintains a register of such legal entities.
- Chapter 3 is devoted to the main provisions of the work of the cooperative in attracting and using funds for the purchase of residential premises. This is a key section of the law, detailing the procedure for operating and regulating the relationship of the cooperative and its members, the purchase and transfer of housing, eviction mechanisms upon termination of membership, disclosure of information, reporting and other significant issues.
- Chapter 4 describes the management of a cooperative. It defines that supreme body management is the general meeting of members, the procedure for its convocation is prescribed and the range of issues within the competence is outlined, the requirements for the work of the board and CEO, as well as the responsibility officials organizations for losses incurred.
- Chapter 5 is devoted to the issues of ensuring the financial stability of the WNC and supervision of its activities. This is the most important section of the law, which introduces restrictions on activities, criteria for financial stability and control mechanisms, as well as establishing liability for failure to fulfill obligations, audit requirements. In addition, it spells out the powers of the Central Bank to exercise supervisory functions.
- Chapter 6 is titled "Transitional Provisions and Entry into Force of this Federal Law". The normative legal act was issued at the end of 2004, therefore, over the past period, the articles contained in the section have lost their relevance and are of no interest to the average user.
The key articles of the Law describing the procedure for joining a cooperative, as well as the rights and obligations arising from this, are given in the table.
| Key points | Articles |
| Joining the ZhNK | Article 5 |
| Rights of a member of a cooperative | Article 7 |
| Responsibilities and duties of a cooperative member? | Articles 6, 8 |
| Termination of membership or expulsion from WNC | Articles 9, 10, 31, 32 |
| Participation in management | Articles 34–41 |
| Access to the information | Articles 18–21 |
| Payment of shares and membership fees | Articles 24, 25, 27, 47 |
| Acquisition (construction) of housing, the right to use and transfer of ownership | Articles 28–30 |
In the law on housing savings cooperatives, the following main points can be distinguished:
- in the name of the legal entity must without fail contain the words "housing savings cooperative";
- the main activity is the purchase of housing for members of the ZhNK;
- obligatory registration of members of the cooperative in the Unified State Register of Legal Entities;
- limiting the number of members of the cooperative (from 50 to 5000 people).
- supervision by the Central Bank;
- separation of bank accounts economic activity and buying a home;
- mandatory annual audit;
- the possibility of withdrawal and return of share contributions.
The law prohibits the ZHC from doing the following:
- issue loans to both individuals and legal entities;
- make a donation;
- be a guarantor for the obligations of shareholders and third parties;
- invest assets belonging to the cooperative in the authorized capital or property of other legal entities, except self-regulatory organizations, uniting ZhNK.
In accordance with the law, any citizen of Russia who is over 16 years old can become a member of the cooperative.
From the documents you will need only a passport, as well as certificates of TIN and state pension insurance. Other documents required by the bank for issuing a mortgage are not needed in this case.
When joining a cooperative, a member of the cooperative must decide which apartment he wants to buy or build, and indicate this in the application.
As a result, a document will be signed that will determine what the amount of the share contribution is, in what period and in what shares it must be paid.
The most common questions and answers to them after reading the Federal Law on housing savings cooperatives of citizens are given in the table.
| Question | Answer |
| When can I get the right to use housing? | Not earlier than two years after joining the cooperative and subject to payment of at least 30%. |
| When will the ownership of the apartment pass from the ZhNK to the shareholder? | After payment of the share contribution in full. |
| What is the amount of the entrance and periodic membership fees? | It is determined by each ZhNK independently. |
| What installments are required to pay a share contribution? | Depends on the chosen form of participation and is determined upon joining the cooperative. |
| What is the maximum loan repayment period? | One and a half period of primary accumulation. The latter, according to the law, is at least two years, so most often the maximum period is three years. |
Usually a cooperative member becomes eligible for an apartment after two years. If he pays half the installment by that time, then the loan allocated to him should be interest-free.
With a lower figure (from 30 to 50%), a part of the amount (maximum 20%) of the ZhNK will not be entitled to cover from the shareholders' funds. The organization will need to take out a loan for this purpose, the obligation to repay the interest of which will fall on its member.
In practice, most housing savings cooperatives, unwilling to deal with banks or unable to receive money on favorable terms, prefer schemes for providing housing after paying at least half of its cost, which is also allowed by law.
Controversial moments and shortcomings
World practice shows that ZhNK work perfectly in a stable economy. With galloping inflation and unpredictable dynamics of housing prices, such organizations may experience difficulties that will lead to the impossibility of fulfilling their obligations to shareholders.
In order for such an organization to function normally, two conditions must be met:
- regular receipt of contributions for the maintenance of the apparatus and the implementation of regular payments;
- the funds returned by the borrowers should be enough to issue new loans.
If the market is stable, then there are no such problems, and the system functions perfectly.
The crisis may cause an outflow of shareholders, which will lead to the inability to maintain the required management staff. And rising prices will require an increase in share contributions to cover the deficit of the budget intended for issuing loans.
So far, the funded cooperation market is poorly developed. According to the Central Bank, as of today, only 86 such organizations have been registered, and 20 of them are in the process of liquidation.
Disadvantages of the WNC include:
- rather high costs for membership fees lost when leaving the cooperative;
- it is required to wait at least two years from the moment of joining the organization before obtaining a loan and, accordingly, acquiring an apartment;
- the rights to real estate do not belong to the shareholder, but to the ZHNK, until the person fully pays off the loan, which means that there are risks of losing housing due to dishonest actions or errors of the cooperative's management.
The first two points are a peculiar and low fee for the use of alternative sources of financing, if compared with mortgage lending.
The last disadvantage can be leveled by the choice of a reliable ZhNK and active participation in its work.
It should be noted that such funding schemes are intended for people with active life position- no Central Bank will control the work of the board of the cooperative better than the shareholders themselves.
Information about changes and additions
During the existence of the Federal Law has undergone a small number of changes and additions.
The most important adjustments were made on 07/23/2013. They are connected with the fact that the FFMS of Russia, which was entrusted with control over the activities of the ZhNK, was abolished, and its functions were transferred to the Central Bank of the Russian Federation.
At the same time, the term "control" was replaced by "supervision". This is not just a game of terms, but significant change the relationship between the representative of the state - the Central Bank and the audited organization - a housing savings cooperative.