Every entrepreneur and homeowner wants not only to have certain material savings, but also to be able to increase them. One of the ways to realize these intentions is to create an association with the same interests of its members. These partnerships have pros and cons. You must find out about this before joining the membership.
A partnership of property owners is a non-profit corporate organization consisting of property owners for the purpose of common ownership, disposal and use of it. Association of this kind is carried out on a voluntary basis and does not contradict the laws of the Russian Federation. Owners of any property, whether land, apartments, offices, premises, etc., can create partnerships. The pros and cons of such associations must be considered. This kind of formation is created to ennoble the internal and external parts of the territory owned by the participants, as well as to ensure the protection of land from the point of view of the law.
A full partnership is an association of legal entities on an economic basis, formed for general commercial activity. Members conclude a special agreement under which they are responsible for the obligations of the association with their property and act on its behalf.
Legal status of a partnership of real estate owners
The activities of a corporate association are regulated by the charter, which does not contradict the Housing and Civil Code of the Russian Federation. This document should contain the following information: information on the location of real estate, name, purpose and subject of formation. It is necessary to include in the charter data on the composition of the partnership of owners. Pros and cons of each member of the association in it determines for himself independently.
The document reflects the legal foundations of management. For example, the organization of repair and improvement of real estate, the construction of new structures and their leasing. The latter refers to the field of activity of entrepreneurs, which is allowed for partnerships. Participants can distribute profits at their discretion.
Members and managers of TSN can be individuals with their own real estate, and legal entities. You must submit an application containing valid information about the future member of the organization. Subsequently, this information will appear in the registry. Partnership participants are not liable for the obligations of the enterprise. The partnership is also free of debts of its members.
Real Estate Partnerships: Pros and Cons
Many real estate owners are interested in joining partnerships. Pros and cons are determined by its specifics. It is necessary to understand in advance before deciding to become part of TSN.
Pros:
- The financial statements of the organization are available to its members. You can find out all the costs of an event held by TSN.
- All attendees are not required to attend the meeting. These meetings are held for selected, leading cadres.
- The owner can always ask a partnership about a joint property or his own property.
- The organization’s attention is focused on increasing the constituent structures, buildings, and land plots. In the future, this will lead to an increase in profits shared between the owners.
- There is the prospect of combining disparate real estate under one governing principle, which will allow the most rational disposal of objects.
Minuses:
- The interests of only members of the organization are taken into account.
- TSN is a legal entity. At any time, the association may declare bankruptcy, which will negatively affect the income of its owners.
- This type of activity cannot be carried out without a license.
- The governing body may make a decision contrary to the interests of the participants.
Legal basis of the General Partnership
The minimum number of members is two. If only one member remains in the partnership, then it will either be liquidated or converted into a business cooperative.
PT is based on shares of its participants. The amount of the member’s profit will depend on the size of the contribution in the future. To cross the threshold, an organization of this type must have capital of at least one hundred minimum wages.
The regulatory framework governing the commercial process in the General Partnership is constituent document. The following information should be indicated in it: the procedure for the formation of the organization, the rules for the provision of property, the characteristics of the sharing of profits by the participants, the specifics of the founder’s exit, the amount of equity capital.
Pros and Cons of a Full Partnership
Many businessmen and large entrepreneurs would like to become part of or create such an organization. However, it is worth considering some nuances, so that in the future there will be no disappointments in partnerships. Pros and cons depend on the characteristics of this kind of organization.
Advantages of PT:
- The prospect of accumulating a large amount of funds in a relatively short period.
- Efficiency of the movement of deposits in various sectors of the economy.
- Simple registration procedure.
- High degree of organization of activities.
The disadvantages of PT:
- Personal liability of partners to creditors.
- A difficult procedure to exit the union.
We can say with confidence that membership in such associations can provide a stable income. In the case of TSN, the refinement and maintenance of real estate must also be considered. In conclusion, it must be said that each of these forms of entrepreneurial activity has certain advantages.