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 ?
Sikander Mandhro has said that number of complaints from different members of the Cooperative Housing Societies were received that Administrators were involved in gross irregularities including cancellation of plots, issuing double allotment as well as involved in illegal sale and purchase of plots.
LAHORE -- A local court on Wednesday suspended stay order issued earlier against the Official Employees Cooperative Housing Society (OECHS) Lahore and summoned the respondents on December 5.
His studies have included condominium and cooperative housing values, the impacts of housing programs on property values, fair housing laws enforcement, and housing market deregulation.
In recent years, keeping seniors in their communities through cooperative housing and home care has been the focus of CDF's cooperative development work.
On this occasion the Minister informed that the record of cooperative housing societies would be computerized till June 2015.
Applying qualitative, case-study oriented research, a comparative study between the Vienna city region and the West Midlands region in England will derive conclusions on the design of governance institutions in cooperative housing which foster linkages between residents, housing managers and people in positions of influence and power in the external institutional environment.
The head of the General Authority for Construction and Housing Cooperatives Hossam Rizk said that this draw comes in the framework of the Ministry of Housing's interests in supporting the cooperative housing system, as one of the most important pillars in solving the housing crisis in Egypt.
National Cooperative Bank has hired Greg Daniszewski and Bob Bernstein as National Commercial Real Estate (CRE) lenders focused on traditional CRE transactions and Harley Seligman as the newest Cooperative Housing lender in NCB's New York Office.
Khartoum, March 9 (SUNA) - The National Fund for Housing and Rehabilitation has stressed its intention to set up cooperative housing societies in Sudan, as in a number of Arab states and international experiences.
The AFL-CIO Housing Investment Trust has been a consistent leader in investing in cooperative housing, which we consider the best model for affordable housing for working families," Mr.
ANBAR / Aswat al-Iraq: The Cooperative Housing Foundation (CHF) of UNESCO organized the first workshop in Falluja to discuss ways of good communications between citizens and officials, director of the public relations of the CHF said on Saturday.
According to the official handout, the board decided to hand over the scams of the Rawalpindi Employees Cooperative Housing Society and the National Assembly Cooperative Housing Society to NAB's special division for further probe into them.

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