E A S T V I E W C O - O P E R A T I V E A P T S.
265 Weber St. E.
Kitchener, ON
N2H 1E9
We Are
Self-Financed
Share Ownership
Eastview members are shareholders in a co-operative corporation.
Purchasing a membership in Eastview is different from buying a unit in a condominium. In the case of a condo it is the unit which is purchased, while at Eastview the member buys a block of shares. As far as residency is concerned the outcome is the same in that the purchaser in both cases is entitled to exclusive right to occupy a particular unit, But, in a co-op, because no single member has a deed of ownership to an apartment, banks are reluctant to offer loans. It is therefore advised that prospective members buy their shares using their own funds.
The sale of shares is made by a current member who transfers their shares to a new member; the new member, in turn, has the right to sell their shares to a prospective member in the future.
Shares are the personal property of the shareholder. Shares may be transferred to other people with the approval of the Board and members. Once a shareholder purchases shares they are entitled to a share certificate acknowledging their right to exclusive occupation of a particular suite and the right to transfer their shares.