Contract terms
A risk-aligned
conversion structure.
These are the core terms of a Hutton conversion. Every project is governed by its executed agreement, cooperative documents, and applicable law.
- Upfront Hutton fee
- $0
- Payment timing
- At deed
- Approval threshold, set by your documents and state law
- Supermajority
- Reserve study and approval work
- Included
Updated September 2026
Term 01
No deed, no cost
If the conversion does not result in deeds being distributed to owners, no Hutton fee is due from shareholders or the cooperative. Hutton completes the conversion phases at its own cost and risk before payment is due.
Term 02
A path for every owner
The conversion plan may include one of Hutton's financing mechanisms, the All-in-Plan (AIP) or the Group Fund, for owners who cannot independently finance or pay their conversion obligation, allowing the obligation to be repaid at sale or refinance without a prepayment penalty. These are ways to finance the same disclosed per-unit fee, not separate or reduced-fee structures.
Term 03
One disclosed fee at deed delivery
Hutton coordinates and pays the professionals required during the process, including attorneys, engineers, and other specialists. Owners pay the disclosed conversion fee when their deed is delivered.
Term 04
Shareholder approval
The plan is structured as a dissolution of the cooperative and distribution of unit deeds. The required approval threshold depends on the cooperative documents and applicable state law; Hutton's plan anticipates approval by two-thirds of shares.
Term 05
Project approval and reserve study
Hutton's terms include preparation of a reserve study and applications for Fannie Mae, Freddie Mac, or FHA project approval, which, if granted, can broaden access to competitive mortgage options.
Project-specific terms