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Homeowners insurance vs. condo insurance. Buying a condo is more similar to buying a home than a co-op. When you buy a condo, you own the unit and likely need condo insurance to insure it properly ...
In non-equity cooperatives and in limited equity cooperatives, [2] a shareholder in a co-op does not own real estate, but a share of the legal entity that does own real estate. [3] Co-operative ownership is quite distinct from condominiums where people own individual units and have little say in who moves into the other units. [4]
Condominium: a form of ownership with individual apartments for everyone, and co-ownership (by percentages) of all of the common areas, such as corridors, hallways, stairways, lobbies, recreation rooms, porches, rooftops, and any outdoor areas of the grounds of the buildings. Townhouses and apartments which are owned in the condominium form of ...
A condop, a portmanteau of the words condominium and cooperative (or "co-op"), is a co-op inside a condo. [3] Stepping back, condominium owners actually hold title to a piece of real estate. Co-op owners are actually shareholder-tenants with shares in and a long-term lease from the co-op corporation. In all co-ops, a corporation owns the building.
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A condo also offers the potential for rental income, which can be an excellent way to earn passive income. However, the condo market in Seattle can be volatile, with fluctuations in demand and ...
Examples of co-operative housing include: College Houses, Urban Homesteading Assistance Board , and Habitat '67, and regular rental housing be they regular looking apartments, townhouses or high end buildings such as those overlooking Central Park in New York City.
Cohousing provides self-contained private dwellings (often houses but sometimes apartments), often owned by the resident, but sometimes rented. Co-living on the other hand may have independent units within the same building (apartments or rooms), which are often rented. However, none of these are exclusive, thus the potential overlaps.
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