cooperative housing

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cooperative housing

n. an arrangement in which an association or corporation owns a group of housing units and the common areas for the use of all the residents. The individual participants own a share in the cooperative which entitles them to occupy an apartment (or town house) as if they were owners, to have equal access to the common areas, and to vote for members of the Board of Directors which manages the cooperative. A cooperative differs from a condominium project in that the owners of the condominium units actually own their airspace and a percentage interest in the common area. In a cooperative there are often restrictions on transfer of shares such as giving priority to other members, limits on income or maximum sales price. (See: cooperative, common area, condominium)

References in periodicals archive ?
Tenants become members of the housing cooperative, which entitles them to get involved in how their properties are managed and to determine and influence future plans and projects in the area.
The Housing Cooperative of Medical Council's members was established in 1994 with the aim of providing home for the physicians.
RESKIN, REAL ESTATE TRANSACTIONS: HOUSING COOPERATIVE LAW AND PRACTICE, [section] 1.
Paul Mangan, Chair of Langrove Community Housing Cooperative, said: "We are really excited to be able to provide homes for five families who have waited a long time for this.
12, 1999--The largest student housing cooperative in North America -- the University Students' Cooperative Association (USCA) in Berkeley -- has switched its facilities to a new 100 percent renewable electricity product being offered by Vermont-based Green Mountain Energy Resources.
95 per month, the tenants of the housing cooperative are unable to receive the new digital TV programme packages such as primaEASY (the simulcast package), primaLIFE, primaFAMILY, primaINFO, the MTV package and Interactive Payperview (IPPV).
GIHAI), the Alyansa ng Mamamayan sa Valenzuela at Caloocan Housing Cooperative (AMVACA), and the Dario River Alliance Housing Cooperative (DRAHC).
During his tenure, NCB and its subsidiaries and nonprofit affiliate have financed nearly $5 billion of housing cooperative loans.
the Alyansa ng Mamamayan sa Valenzuela at Caloocan Housing Cooperative, and the Dario River Alliance Housing Cooperative are few of the organized communities that will execute the housing projects.
A contract was also signed with Sweden's biggest housing cooperative, which includes 1,169 apartments and 18,000 square meters of commercial space.
7 million in new residential loans for 1,205 cooperative unit owners and $358 million in building financing for 186 housing cooperative communities.

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