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The purchase price of a comparable unit in the co-op is typically much lower, however. With limited equity, the co-op has rules regarding pricing of shares when sold. The idea behind limited equity is to maintain affordable housing. A sub-set of the limited equity model is the no-equity model, which looks very much like renting, with a very low ...
posted rules on laws governing community cleanliness If you live in a multi-unit dwelling, your landlord will have to comply with certain regulations outlined in each state's tenants' rights code .
After a certain period of years, owners of Mitchell–Lama limited equity housing co-operatives may decide according to their co-op voting rules to "privatize" or demutualize their building as well. That may permit owners to sell their apartments, often at a high profit, but it can potentially increase the maintenance fees of remaining ...
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.
The entire property is legally owned by a non-profit corporation, in which the tenants own shares; each share carries the right and duty to lease an apartment from the cooperative. Shares can be bought and sold, but often the cooperative's rules strictly limit the price for which they may change hands.
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Cohousing is an intentional, [1] self-governing, [2] cooperative community where residents live in private homes often clustered around shared space. [3] The term originated in Denmark in the late 1960s. [4] [5] Families live in attached or single-family homes with traditional amenities, usually including a private kitchenette. As part of the ...
Common areas often exist in apartments, gated communities, condominiums, cooperatives, and shopping malls. [ 6 ] In any situation where there is a tenancy in common , all the tenants in common collectively own the common areas, meaning that any one individual owner does not possess more control over the land than any other owner.
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