F
Falcon
Guest
My Mother has moved from a Christian Care Center where she
had to buy her apartment. now that she is moved she will only get her money back when they sell it, is this legal?
this is what it saids
13. REFUNDS. Should the Resident terminate this Agreement either by moving from the center of by death, the Center shall offer the unit to the next potential Resident desiring Cooperative Membership in the Center. Upon acceptance of resident cooperative membership by a potential resident, in accordance with the order of reservations made, the center shall refund the former resident's ministry deposit in accordance with the terms described herein. current refund policies are those in effect as of the date of this agreement. refunds shall be redeemed at the rate of 2% depreciation per year or any portion thereof for the first five years of occupancy which will result in aminimum refund of 90% of the ministry deposit after five years. In the case of the acceptance of an unequal ministry deposit to that of the prior resident member, the center shall refund the balance of the required refund to the resident or the estate under the refund terms of this agreement. among other things, these non-refundable funds are used for the payment of financing, construction interest, initiation expenses, fees, property development costs and refurbishing the living unit.
The center shall reserve the right to offer the unit to an associate member if, after a reasonable time, a cooperative resident member for the unit in question can not be secured. if after a twelve(12) month period of time the unit in question has not been reoccupied by another resident cooperative member, but can be or has been occupied by an associate member, the center shall begin the refund of the ministry deposit to the resident, or his or her successors or assigns, based upon the distribution of the monthly payments after the deductio of a 10% administration fee will be based upon the percentage of the total unit cost of the ministry deposit.
The center may refinance the unit in question upon the resident's request in order to refund the residents ministry deposit if the current fair market value of the unit will sustain such procedure. if the center is required to refinance the unit in question in order to refund the ministry deposit, the resident of his or her personal representative shall receive such refund less the actual refinancing costs to the center. The center may also provide a refund upon the occupation of a unit of similar market value by a cooperative resident member which would maintain the same or approximate total value of units occupied by cooperative resident members at the time of the refund.
My mother moved out on Dec 18th, 2000 and they did nothing
to her apartment until just now. the carpet was almost brand new, because she had it cleaned twice a year. is there
anything we can do to get this money back now?
had to buy her apartment. now that she is moved she will only get her money back when they sell it, is this legal?
this is what it saids
13. REFUNDS. Should the Resident terminate this Agreement either by moving from the center of by death, the Center shall offer the unit to the next potential Resident desiring Cooperative Membership in the Center. Upon acceptance of resident cooperative membership by a potential resident, in accordance with the order of reservations made, the center shall refund the former resident's ministry deposit in accordance with the terms described herein. current refund policies are those in effect as of the date of this agreement. refunds shall be redeemed at the rate of 2% depreciation per year or any portion thereof for the first five years of occupancy which will result in aminimum refund of 90% of the ministry deposit after five years. In the case of the acceptance of an unequal ministry deposit to that of the prior resident member, the center shall refund the balance of the required refund to the resident or the estate under the refund terms of this agreement. among other things, these non-refundable funds are used for the payment of financing, construction interest, initiation expenses, fees, property development costs and refurbishing the living unit.
The center shall reserve the right to offer the unit to an associate member if, after a reasonable time, a cooperative resident member for the unit in question can not be secured. if after a twelve(12) month period of time the unit in question has not been reoccupied by another resident cooperative member, but can be or has been occupied by an associate member, the center shall begin the refund of the ministry deposit to the resident, or his or her successors or assigns, based upon the distribution of the monthly payments after the deductio of a 10% administration fee will be based upon the percentage of the total unit cost of the ministry deposit.
The center may refinance the unit in question upon the resident's request in order to refund the residents ministry deposit if the current fair market value of the unit will sustain such procedure. if the center is required to refinance the unit in question in order to refund the ministry deposit, the resident of his or her personal representative shall receive such refund less the actual refinancing costs to the center. The center may also provide a refund upon the occupation of a unit of similar market value by a cooperative resident member which would maintain the same or approximate total value of units occupied by cooperative resident members at the time of the refund.
My mother moved out on Dec 18th, 2000 and they did nothing
to her apartment until just now. the carpet was almost brand new, because she had it cleaned twice a year. is there
anything we can do to get this money back now?