Cooperative

Definition

• A residential project owned by a cooperative corporation where the residents own shares in the corporation which gives them the right to live at the residence.

Synonyms
common interest, co-op, corporation, group project

Alternate Spellings
coop, Co-op

Related Terms and Acronyms

• Condominium (condo) — Abbreviation,
  • A condominium is an apartment building or townhouse complex where the structure and living areas are managed and owned, rather than rented, by the building's tenants.
  • A structure of two or more housing units. The interior space of the units are individually owned. The balance of the property (land, building and other amenities) is owned in common by the owners of the individual units.
• Cooperative Mortgage — Definition, Important,
  • A loan that allows the borrower to buy into a co-op project.