In lieu of obtaining the signatures of all heirs, a Will may be used. The Will must be probated when the capital exceeds $2,000, and probate documentation must be provided. A copy of the Will must be furnished to the Cooperative, and the Executor or Executrix must provide their notarized signature.
- In lieu of obtaining the signatures of all heirs, a Letter of Administration may be used. The Letter of Administration must be an original certified copy and will be retained by the Cooperative. The Administrator must provide their notarized signature.
- In lieu of obtaining the signatures of all heirs, a Court Order may be obtained from the appropriate county. Each county assesses different fees for court orders. The Cooperative may compose a letter to the appropriate Clerk of Court estimating the amount of capital available. No signatures are required when a Court Order is used.
- Accrued capital credit on joint accounts will be transferred to the surviving spouse.
- Capital credit is only payable through the date of death of the member. Any capital accrued after that date will be transferred, when possible, to the heirs.
- Estimates of capital credit amounts are dependent on date of death, final and uncollectible balances of the member, and uncollectible balances of heirs.
- Capital credit checks are normally issued within 30 days of submission of completed documents and payment of the final bill. Check payable information may not be changed once forms are submitted.
Energy Efficiency Tip
Cleaning or replacing HVAC system filters monthly will help your unit run more efficiently.