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Thursday, November 21, 2019

What is the mean by Cooperative housing in real estate?

If you are searching for the meaning of Cooperative housing in real estate and also a definition of Cooperative housing,  then this blog post is helpful for you

Definition

(1) A form of real estate, usually a dwelling in which residents own shares, but do not directly own the space they inhabit. Rather, owning a share of the building entitles the shareholder with the right to inhabit a certain space within the dwelling, such as an apartment. Shares are usually proportional to the amount of space in each apartment. 

(2) A living arrangement in which residents must perform certain duties or chores to benefit the entire residence, in addition to paying room and board. A common form of dormitory living. 

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