Hello,
My society is going for re-development. Thus, the builder has offered some amount as a corpus to the society. The society has decided to distribute this fund to the members. Now, the members include some who wishes to stay in the re-developed building and also include some who wishes to exit the society.
Can anybody confirm that according to the law, can a member who is exiting, be entitled to the said corpus fund share?
Thanks and Regards.

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Originally Posted by anxious123

Hello,
My society is going for re-development. Thus, the builder has offered some amount as a corpus to the society. The society has decided to distribute this fund to the members. Now, the members include some who wishes to stay in the re-developed building and also include some who wishes to exit the society.
Can anybody confirm that according to the law, can a member who is exiting, be entitled to the said corpus fund share?
Thanks and Regards.

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Friend had this situation in Florida and everybody took a portion - don't know about other States or, for that matter, if this is even legal in Florida but that's what happened.