Why Should A Resident Owned Cooperative Subdivide?
This article is being prepared as a result of a number of recent inquiries from residents in corporate mobile home parks that we have converted to resident ownership.
The question, although phrased differently depending upon the park and the residents’ choice of language, can be easily phrased as . . .
read moreResident Purchase Methods – A Primer on Approaches to Conversion Pt. IV [Planned Unit Development (or Full Subdivision) Conversion]
There is some confusion surrounding the “subdivision†of a mobile home park.
A subdivision can take several forms, which include a cooperative (approved by the State and local agencies). This form of cooperative excludes the limited equity cooperative and the mutual benefit non-profit conversion which is often referred to as a cooperative . . .
read moreResident Purchase Methods – A Primer on Approaches to Conversion Pt. III [Resident Initiated Condominium Conversion]
A Resident Initiated Condominium Conversion refers to the subdivision of a mobile home park into individual units by the Residents of the park. As used in this article, the term “resident initiated†does not strictly refer to a condominium conversion started by the residents. Under California law, a “resident initiated†condominium conversion actually refers to any condominium conversion . . .
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