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co-op |
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Cooperative (co-op). A co-op is a corporation that owns a particular residential property. The shareholders are the tenants who, instead of owning an individual unit, own shares in the corporation, which gives them the right to live in that unit. co-op (1) Short for cooperative apartment, being a method of owning real estate in which a corporation owns a building and related facilities and persons who buy stock in the building are entitled to rent a particular unit, called a proprietary lease, at rates significantly below market rents. (2) An arrangement between two real estate agents for the sale of a property and splitting of the commission, usually as a result of one agent having the listing with the owner and another agent bringing the buyer to the closing table. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| 6 million first mortgage and a $300,000 line of credit for a 300-unit co-op located at 181 Long Hill Road in Little Falls, NJ; a $3. Specifically, section 216(a)(1) allows a tenant-stockholder to deduct his or her proportionate share of the real estate taxes the co-op can deduct under section 164. Vancouver -- A Vancouver women must vacate her deceased mother's co-op housing unit in Vancouver after a Supreme Court of British Columbia judge dismissed her petition to stay in the unit, saying the women's human rights had not been violated and the co-op was simply upholding its House Rules or policies. |
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