Reservoir Hill Mutual Homes Reviews (%countItem)
Reservoir Hill Mutual Homes Rating
Address: 2100 Callow Ave, Baltimore, Maryland, United States, 21217
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My sister *** invested in this business in 1989. She passed away in January 2020. I became the Executive of her estate. In February 2020 I submitted a notarized letter, time stamped by the office that I would be applying for what she invested in the company. I received a letter from the office in late February 2020 stating that I was not on record to apply for her shares/equity. In March 2020, I went to Register of Deeds in *** Maryland and submitted paperwork to become Executive of her estate and was granted the legal document in April 2020. I submitted it to Reservoir Hill Mutual Home LLC in late April. In May of 2020, I realized I had not heard from them and wrote a follow-up letter to the company, it is now the end of July, beginning of August and they have made no effort to contact me to about a decision.
Other (requires explanation) My sister invested in this company so she would have a comfortable retirement, but she died before she was able to. I am her next of kin and would like what was due her to now come to me. I don't know why they refuse to release it to me. But I certainly hope they don't intend to keep it or has used it illegally.
See attached
Re: Complaint Case No. ***
Dear Ms.:
Please be advised that I represent Reservoir Hill Mutual Homes, Inc. I am in receipt of
the Complaint received by ***. Ms. alleges that Reservoir Hill Mutual
Homes, Inc. did not respond to her May of 2020 inquiry. On May 26, 2020, Reservoir Hill Mutual
Homes, Inc. mailed her a response to her inquiry. (See attached). I am also attaching Ms.
***'s letter dated February 12, 2020 which notified Reservoir Hill of her relationship to its
former member, *** and requested "accrued equity and stocks". On March 2,
2020, a response was sent to Ms. advising that Reservoir Hill would need authority
establishing that Ms. had legal authority to conduct any business or obtain any information
concerning ***.
Ms. on or about April 24, 2020, provided a letter of "Administrative for a Small
Estate" for ***, naming ***, as Executor, signed by Register of Wills.
Reservoir Hill responded to Ms. on May 26, 2020 stating that there was no accrued equity
pursuant to the relevant provisions of the Article of Incorporations.
It appears that Ms. is not completely understanding that Reservoir Hill Mutual
Homes, Inc. is a limited equity housing cooperative in which members have "limited equity" in
exchange for carrying charges (rent) that is generally considerably below "market rate rent".
Limited equity housing corporations are intended to be a mechanism to provide affordable
housing and increased communal involvement in the member's community