Form ROD34 Economic Interest Deed - Cooperative Only - Washington, D.C.

Form ROD34 Economic Interest Deed - Cooperative Only - Washington, D.C.

What Is Form ROD34?

This is a legal form that was released by the Washington DC Office of Tax and Revenue - a government authority operating within Washington, D.C.. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is an economic interest deed?
A: An economic interest deed is a legal document that transfers an individual's interest or share in a cooperative housing corporation.

Q: What is a cooperative ownership in real estate?
A: Cooperative ownership refers to a housing arrangement where residents own shares in a corporation that owns and manages the entire property. Instead of individual ownership, residents hold shares and have a right to occupy a particular unit.

Q: How does cooperative ownership work?
A: In a cooperative, shareholders own shares in a corporation that owns the property. Each shareholder has the right to occupy a specific unit but does not have direct ownership of the unit itself. Shareholders pay monthly fees to cover expenses and maintenance costs.

Q: Why would someone choose cooperative ownership?
A: Some people choose cooperative ownership for various reasons, including affordability, community living, and shared decision-making. Cooperative owners also benefit from not having to worry about property maintenance and repairs directly.

Q: What is the role of an economic interest deed in cooperative ownership?
A: An economic interest deed is used to transfer or convey an individual's interest or ownership in a cooperative. It helps document the transfer of shares from one party to another.

Q: Are cooperative ownership and condominium ownership the same?
A: No, cooperative ownership and condominium ownership are different. In a condominium, individuals own their units and have a share in common areas, while in a cooperative, individuals own shares in a corporation that owns the entire property.

ADVERTISEMENT

Form Details:

  • The latest edition provided by the Washington DC Office of Tax and Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form ROD34 by clicking the link below or browse more documents and templates provided by the Washington DC Office of Tax and Revenue.

Download Form ROD34 Economic Interest Deed - Cooperative Only - Washington, D.C.

4.7 of 5 (21 votes)
  • Form ROD34 Economic Interest Deed - Cooperative Only - Washington, D.C., Page 1
ADVERTISEMENT