Transferring a coop requires 2 processes:
1. The first process is with the building. This process involves requesting and completing the "resale" forms. The resale package has a cost of $300, payable check to River Place South. Once the package is ordered and the forms are completed and returned to the building, River Place South can issue a Resolution approving the transfer.
Note that if there is a parking space associated with the unit, resale forms will also need to be paid & ordered from the River Place Owners Association Parking Office.
2. The second process is the transfer process with the Transfer Agency. The transfer agency commonly works with the settlement company assisting in the process. Upon a request, the transfer agency provides an order form that needs to be completed by the settlement company who will be coordinating the signatures, notarizations and recording the finalized documents with Arlington County.
The Transfer Agency prepares the Assignments of Proprietary Lease that will need to be signed by Assignor(s), Assignee(s) and the President of the Board of the building (or of the RPOA if they relate to a parking space). These documents need to contain specific language related to the coop or to the RPOA and Transfer Agency makes sure that the process is done as established by the River Place governing documents.
The transfer fees from the Transfer Agency are:
- Unit transfers: $500
- Parking transfers: $300
- Re-issuance of lost stock certificates: $250
1. The first process is with the building. This process involves requesting and completing the "resale" forms. The resale package has a cost of $300, payable check to River Place South. Once the package is ordered and the forms are completed and returned to the building, River Place South can issue a Resolution approving the transfer.
Note that if there is a parking space associated with the unit, resale forms will also need to be paid & ordered from the River Place Owners Association Parking Office.
2. The second process is the transfer process with the Transfer Agency. The transfer agency commonly works with the settlement company assisting in the process. Upon a request, the transfer agency provides an order form that needs to be completed by the settlement company who will be coordinating the signatures, notarizations and recording the finalized documents with Arlington County.
The Transfer Agency prepares the Assignments of Proprietary Lease that will need to be signed by Assignor(s), Assignee(s) and the President of the Board of the building (or of the RPOA if they relate to a parking space). These documents need to contain specific language related to the coop or to the RPOA and Transfer Agency makes sure that the process is done as established by the River Place governing documents.
The transfer fees from the Transfer Agency are:
- Unit transfers: $500
- Parking transfers: $300
- Re-issuance of lost stock certificates: $250