Las Torres del Coco - Your questions answered....
Dear Torres del Coco Owners
after
receiving any email from all of you and expressing your concerns about
this project i have some positive news that i would like to share with
all of you:
Concerns:
1.
The shares are issued by a corporation "Sweet Towers of Coco SA" which
Mapache family members have the following positions - PRESIDENT:
Margarita Aroyo Quiros, SECRETARY: Andrea Aroyo Quiros
Answer:
All
the shares of this corporation were endorsed to Jose Manuel Arias (the
lawyer the initially opened this corporation) and he became the trustee
of those shares. Than new shares were reissued with the name of each
buyer and the number of the unit that each owner purchased written on
the share certificate. This corporation had and still has only 48
shares. he is still the legal owner of some
shares that have not been picked up yet but the balances were paid.
Remember the everyone needs to sign the corporation asset book so they
can become legal owner of their share. (or a power of attorney to
somebody that could physically be there)
2. How can we remove Mapache as the executives of this corporation?
Answer:
This
process requires some time and is kind of lengthy but it could be done.
Is not necessary in order for us to finish the project and we are at no
risk whatsoever at this point. here are the following actions that we
need to taken order to get this done:
a.
publish a convocation message in the business section of "LA GAZETA" as
well as in a regular local news paper such as "LA NACION" with the date
and place of the meeting ,the agenda so all owners can attend.
b.
give at least 2 weeks' notice to all the owners so they can fly to
Costa Rica and attend the meeting. In case that they cannot be present
they could sign a proxi letter and someone can represent their interest.
c. a bilingual lawyer that could communicate with all the owners present at the meeting.
d.
three members that need to be voted for the following positions:
PRESIDENT, SECRETARY and TRASURER. Those members do not have to be
living in Costa Rica full time or be Costa Rican citizens or residents,
but they have to act in the interest of all share holders and provide
information of any change in ownership of any share and other necessary
responsibilities.
e. conduct the meeting and elect the new officers.
As mentioned above this can be done now or after the project if finished since we are at no risk at all.
3. Does this properly or corporation have any leans or any debts?
Answer:
This
property and corporation is completely free of leans, debts or any
obligations towards any party. See the attached study of the property
from the nation registry in Costa Rica.
4. Have all the taxes been paid or any other penalties that we don't know of?
Answer:
Al
the property taxes have been paid and are up to date. For 2008 and 2009
(963.238.95 colones) have been paid and the taxes for 2010 (850.245.25
colones) will be due in the next couple of months. We are hoping to
have few dollar left after everything is done so we can apply the
remaining money towards this payment. See the attached receipts.
5.
Where is the letter from COPOGUANACHASTE requesting that a second
transformer needs to be installed and why only one company can perform
this work?
Answer:
Attached
is the letter from COPOGUANACHASTE and just like here in the States the
electrical company can only contract qualified contractors that are
certified and insured according to the state requirements.
6. What if Mapache can go and get another loan without our consent?
Answer:
Mapache could act
ONLY in agreement of the share holders. In other words there cannot
take another loan against this property, rent or live in any of this
units, manage the property without our consent or any other decisions
that are to be made in this property.
7. Sorin, are you able to send to us the legal documents that show the current state of our ownership?
Answer:
The legal documents are the following:
a. The current state of ownership is each individual share.
b. 48 shares of the corporation - as mentioned above most of the shares have been already distributed.
c.
The books of the corporation (assets, meetings, registry) which i don't
have any copies of it, but i will make copies when i get there in first
week of April.
Now let's get to the plan of actions also suggested by Mr. Serguei in his previous email.
1.
we need to form a Home Owners Association which in its turn will
protect our interests and manage major issues of finishing the
community and managing it in the future.
here is the link published by Mr. Serguei:
http://www.1costarica.net/blogs/las_torres_owners/archive/2010/03/11/proposed-las-torres-del-coco-studios-hom-e-owners-association-by-tropical-felgate.aspx
2. We also published a proposed Rules and Regulations of the Condominium.
here is the link published by Mr. Serguei:
http://www.1costarica.net/blogs/las_torres_owners/archive/2010/03/11/proposed-las-torres-del-coco-condominium-rules-and-regulations-by-tropical-felgate-costa-rica.aspx
3. Proposals from different Management companies.
The
one we've done business with and have a great reputation is "Sunset
propoerties", also Mr. Serguei will submit his proposal for this
purpose.
Mr. Serguei comments:
”I
know Sunset Properties very well and would not mind if they were the
managers, though I would be strongly against other candidates you
mentioned. They might be good on sales, but screwed up on property
management already."
4.
We must also fund the trust with the $1000.00 per unit so funds are
available for hiring contractors to finish the remaining work.
The rest of the attachments i will email tomorrow.
Please send your comments ASAP
Best regards,
Sorin Costache
Attachment(s): endorse.pdf