Cooperative ownership is oneof the varieties of the collective and is based on the activities of voluntarily united members for the sharing of material and cash. The high motivational potential of this form of ownership is due to the making of an individual contribution (share). In turn, the cooperative form of ownership acquires diverse forms, here are some of them:
• Development combined with state ownership
• On a rental basis
• In the form of manufacturing enterprises
• Cooperative banks
• Consumer Cooperatives
• Credit cooperatives
• Housing cooperatives.
The property owned by the cooperative is located infull use, possession and disposal of all its members. A meeting of members of a cooperative is recognized as its highest governing body, in which each of them has the right to one single vote when making decisions. Based on this, we can conclude that, despite the fact that the cooperative form of ownership is a private form - it is managed collectively by all members of the association.
Cooperative ownership, the basisproperty independence of which is a statutory (mutual fund) is created by contributing members. This implies that each participant makes a contribution at the time of registration of registration documents with the state body in the amount that is provided for this cooperative legislatively or in full. And although the Civil Code of the Russian Federation does not provide for a certain size of a fund for different cooperatives, it is clear that their minimum size will differ significantly, it is necessary to legislatively approve the size of contributions for a particular type of cooperative. For example, a co-operative created for the construction of a dwelling house should have a mutual fund in the amount of value that fully ensures the costs of its construction.
Основным недостатком этой формы собственности is the introduction of additional shares in the case when the main unit fund is not able to cover all costs to achieve a certain result. Thus, the cooperative form of ownership obliges to bear subsidiary liability jointly and severally in amounts that have not been paid, as stated in paragraph 4 of Art. 116 of the Civil Code of the Russian Federation, in case of non-payment of an additional share.
However, when actually spentthe share of funds for the implementation of the project is less than that contributed by the participants, they are subject to return to its members on a mandatory basis. Practically quite often it turns out when the size of the authorized (share) fund of the cooperative in fact turns out to be much higher than the estimated cost of the constructed housing. As a result, participants receive a low-value property in comparison with a paid contribution.
Privatization of a cooperative apartment impliesformal receipt of a state registration document confirming the right to property after the submission of a package of relevant documents to the Federal Registration Service. Since the cooperative apartment becomes the full property of its owner immediately after the final redemption of his share and he is in fact already his property.
Ownership of cooperatives excludesthe possibility of unlawful seizure of property belonging to them by organizations or individuals and has the right to demand immediately, to eliminate all violations on this issue with compensation for damage caused to cooperative property, as a result of illegal actions. Cooperative rights include ownership, use and disposal of property belonging to them or use of property on any other legal grounds.
