Cooperative Housing

Business, Legal & Accounting Glossary

Definition: Cooperative Housing




What is the dictionary definition of Cooperative Housing?

Dictionary Definition


n. an arrangement in which an association or corporation owns a group of housing units and the common areas for the use of all the residents. The individual participants own a share in the cooperative which entitles them to occupy an apartment (or townhouse) as if they were owners, to have equal access to the common areas and to vote for members of the board of directors which manages the cooperative. A cooperative differs from a condominium project in that the owners of the condominium units actually own their airspace and a percentage interest in the common area. In a cooperative, there are often restrictions on the transfer of shares such as giving priority to other members, limits on income or maximum sales price.


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Definition Sources


Definitions for Cooperative Housing are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 2 Views.