1
Inform before the vote
Shareholder Education
- Board-approved educational meetings scheduled
- Benefits, costs, and implications explained clearly
- All shareholder questions addressed transparently
The Process
Six steps to
unlocking equity.
Hutton manages every major phase of the conversion, from early education through closing. The process is structured to keep boards informed and owners prepared at each step.
Process posture
The experience should feel guided, staged, and predictable for boards and owners.
6-9
Months typical timeline
6
Core stages
Before vote
Owner education begins
At closing
Deeds and financing recorded
Process map
A six-step path from early education to post-conversion positioning
Each stage has a distinct purpose, timeline, and set of owner-facing decisions.
2
Democratic decision-making
The Vote
- Proxy/Ballot distributed to all shareholders
- Special Meeting called for formal vote
- Your vote counts whether present or by proxy
3
New condominium regime created
Legal Formation
- Master deed, bylaws, and regulations prepared
- Documents filed with appropriate authorities
- Full Board participation throughout
4
Financing made simple
Loan Applications
- On-site loan application assistance
- Flexible scheduling for every shareholder
- Hutton representatives guide the process
5
Settlement and transfer
The Closing
- Escrow or simultaneous closing over 2-3 days
- Attorneys conduct all closings on-site
- New deeds and mortgages recorded immediately
6
Maximizing your value
Post-Conversion
- Building re-introduced as condominium
- Strategic marketing to real estate community
- Regulated sales to optimize pricing
What changes
The ownership exchange at a glance
At closing, ownership moves from a co-op structure to a condominium structure with a different legal and financial model.
Cooperative
Condominium
Shares in co-op
Deed to condo unit
Pro-rata share of co-op debt
Individual mortgage
Common interest (co-op)
Common interest (condo)
Ready to start?
The first step is understanding whether your building is a fit
The feasibility study is the cleanest on-ramp into the process and gives the rest of the timeline context.