is a form of ownership where individuals or members form a business entity to acquire the ownership of the land and building. Although the physical appearance of the real estate is the same, the ownership interests are distinguished from other forms of ownership by the following:

• Members of the coop own stock in the corporation – they do not own the real estate directly.
• Taxes are assessed on the entire piece of real estate not on the individual units.
• Mortgage or financing of the property is on the entire property not on the individual units.
• Shareholders may experience difficulty obtaining a 'share' loan to finance equity using their stock and proprietary lease as security.
• Members are obligated under Fair housing laws but can maintain control of new members by 'first right of refusal' on the sale of shares.