01
A transfer is a share transfer
Shares and the lease move together, the board approval sits in the middle, and the certificate has to end up matching the register. Not a deed recorded somewhere and a directory row that goes stale.
Your shareholders do not own real estate, and most software has never noticed.
A cooperative owns the building and issues shares with a proprietary lease attached. That single fact changes transfers, approvals, financing, records and remedies — and it is the fact almost every platform in this category quietly assumes away.
Why this is its own page
Four things a condominium never has to do, that you do every time a unit changes hands.
02
The approval process is a real process
Applications, financials, interviews, the decision and the reasons kept for it. Cooperatives have latitude condominiums do not, and latitude is exactly what you need a clean record of.
03
The register is the source of truth
Who holds which shares, subject to which lease, with what arrears and what consents. When this drifts from the ledger, you find out during a closing.
04
Underlying financing is yours, not theirs
A blanket mortgage on the building is a corporate obligation your shareholders carry indirectly. It belongs in your financial statements and in what you can explain at an annual meeting.
Intended outcome
A cooperative board that can produce the register, the lease, the approval and the ledger, and have them agree.
Decision boundary
LRI Connect provides software and operational services. Legal conclusions, privilege decisions, required disclosures, and final compliance determinations remain with the client and its qualified counsel.
One thing worth saying plainly