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    anxious123's Avatar
    anxious123 Posts: 1, Reputation: 1
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    #1

    Nov 24, 2007, 03:23 AM
    Entitlement of Corpus fund
    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.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Nov 24, 2007, 10:22 AM
    Quote 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.

    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.
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