Resident 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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Resident Purchase Methods – A Primer on Approaches to Conversion Pt. II [Limited Equity Cooperatives]

The concept of using a Limited Equity Cooperative (“LEC”) to convert a proprietary owned mobile home park to resident ownership is not new. The LEC has been used both in California, and throughout the United States in a number of mobile home park conversions. In some instances . . .

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Resident Purchase Methods – A Primer on Approaches to Conversions Pt. I [Mutual Benefit Non-Profit Corporation]

In order for residents to purchase the park in which they live and for park owners to sell the park to residents, a number of methods must be considered. Mutual Benefit Non-Profit Purchase During the 1980 time period, the conversion process was assisted by the passage of a number of statutory revisions and innovations. One of the earliest . . .

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