An arrangement in which a corporation made up of residents owns a building. The buyer owns a proprietary lease, rather than real property, and a corresponding number of shares in the corporation. Difficult to obtain financing as there is no individual ownership of each unit.
a business organisation owned and controlled by its members for their mutual benefit
a business owned and controlled equally by all members
a business structure that has corporate status, ie it is a separate legal entity and has the advantages of limited liability
a corporation organized and controlled by its members, who pool resources to provide themselves and their patrons with goods, services, or other benefits
a corporation which owns the building and issues "proprietary leases" for individual units to those who own shares in the corporation
a democratic organisation owned and controlled by the people it serves who join together for a common benefit
a form of business organisation which is member-owned
a form of enterprise in which everybody agrees to work together (co-operate) for the good of all and to share the benefits of the enterprise
a form of ownership in which individual owners do not own their actual apartments, but rather they own shares in a corporation that owns the building
a jointly-owned enterprise formed to meet the common economic, social and cultural needs of its members
a mutual organisation owned by its employees
an autonomous association of people united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned enterprise, democratically controlled by its members
an autonomous association of people, usually of limited means, who join together on a voluntary basis to achieve a common objective
an enterprise owned and controlled by the people working in it
an enterprise owned and democratically controlled by the users of the goods and services provided
an enterprise that is owned and controlled by its members for the purpose of providing mutual benefits
an entity voluntarily owned and controlled by the people for whom it was established and who use its services
an independent legal entity owned by a group of consumers or producers
an organisation that is established for the mutual benefit of its members for some specific purpose such as making loans or providing goods and services
an organization jointly owned by the workers themselves
an organization owned by the members who use its services
a system based upon the philosophy of equality, equity, and mutual self help
a user-owned and user-controlled business with a minimum of three founding members
a very different type of organisation as it is member owned and run on a democratic basis
a voluntary association of people formed to meet common economic, social and cultural needs
When a corporation owns a building, and therefore purchasers receive shares of stock in the corporation along with a proprietary lease for their apartment.
An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
Organisation or business owned wholly by its employees or stakeholders, where the emphasis is on group decision making, usually on a one member, one vote system. Credit unions are an example of banking cooperatives.
An organization that is jointly owned and or managed by its members and is run for the mutual benefit of members
Cooperative Housing is an apartment building or a group of dwellings owned by a corporation, the stockholders of which are the residents of the dwellings. It is operated for their benefit by their elected board of directors. In a cooperative, the corporation or association owns title to the real estate. A resident purchases stock in the corporation which entitles him to occupy a unit in the building or property owned by the cooperative. While the resident does not own his unit, he has an absolute right to occupy his unit for as long as he owns the stock.
co-operative is housing unit in a complex owned by a corporation, in which the residents of the building are the stockholders. The corporation owns the title to the real estate, while the individual unit owners own stock in the corporation.
A type of business organisation that is owned collectively by its members. Members run the business for their own mutual benefit rather than for profit. Co-operatives have been particularly popular in the agricultural industry and among savings banks.
A type of multiple ownership in which the residents of a multi-unit housing complex own shares in the co-operative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit.
An alternative user owned and controlled system of social ownership.
In a residential co-operative, the buyer purchases shares in the co-op corporation, made up of the residents in the co-op property. The buyer owns the shares rather than owning real property. In exchange, ha has the right to lease and occupy a co-op unit.
There are various types of co-ops, including employee-based (worker co-ops), consumer based (retail/high street co-ops), and housing co-ops made up of tenants/joint owners. Usually seen as a part of the Social Economy, and almost by definition count as social enterprises (although the big Co-op retail societies can appear remote).
a business owned and operated by the people that it serves. Page 41
A wholesale or retail organisation owned by an association of customers of the organisation, often focused on a particular market sector, e.g. dairy products, seafood, etc.
(no longer British practice) A residential development owned by a co-operative corporation. Resident's own shares in the co-operative, which in turn gives them the right to live in the development.
Generally smaller than typical RSLs, these have a stronger link between tenants and members. In a fully mutual co-op, all tenants are members and all members are tenants or prospective tenants.
A co-op is a form of ownership in which a corporation or business entity holds title to a property and grants the occupancy rights to particular apartments or units to shareholders by means of proprietary leases or similar arrangements. A loan granted for a co-op is collateralized by an assignment of the proprietary lease and a pledge of the shares of stock allocated to the unit. covenants Rules and restrictions governing the use of property.
