cooperative apartment

Dwelling units in a multidwelling complex in which each owner has an interest in the entire complex and a lease of his own apartment, though he does not own his apartment as in the case of a condominium. This is organized in corporate form and is generally treated as a corporation. However, it is somewhat of a legal hybrid in that the stockholder possesses both stock and a lease and the relationship between the tenant shareholder and the owner-cooperative is largely determined by reading together the certificate of incorporation, stock offering prospectus, stock subscription agreement, and proprietary lease. Sanders v. Tropicana, 31 N.C.App. 276, 229 S.E.2d 304, 308

Black's law dictionary. . 1990.

Look at other dictionaries:

  • cooperative apartment — n. An apartment in a complex of apartments in which each owner has a share in the entire complex and a lease of his or her own apartment. See also condominium The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy… …   Law dictionary

  • apartment — I noun home, place of residence, premises, residence associated concepts: condominium, cooperative apartment II index chamber (compartment) …   Law dictionary

  • Apartment — For other uses, see Apartment (disambiguation). Apartments facing Central Park in midtown Manhattan, New York, United States …   Wikipedia

  • Apartment building — An apartment building, block of flats or tenement, is a multi unit dwelling made up of several (generally four or more) apartments (US), or flats (UK). A difference may be drawn such as in San Francisco, California between an apartment and a flat …   Wikipedia

  • cooperative — cooperatively, co operatively /koh op euhr euh tiv lee, op reuh tiv , op euh ray tiv /, adv. cooperativeness, co operativeness, n. /koh op euhr euh tiv, op reuh tiv, op euh ray tiv/, adj. 1. working or acting together willingly for a common… …   Universalium

  • apartment — I (New American Roget s College Thesaurus) n. flat, suite, rooms, maisonette, tenement, walk up; condo[minium], co op. See abode, receptacle. II (Roget s IV) n. Syn. rooms, quarters, flat, suite, cooperative apartment, condominium apartment,… …   English dictionary for students

  • cooperative housing — See cooperative apartment …   Black's law dictionary

  • Cooperative Living Organization — Formation 1931 Type Housing cooperative Headquarters Gainesvi …   Wikipedia

  • cooperative housing — 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 a proprietary lease to… …   Law dictionary

  • cooperative — or co operative [kō äp′ər ə tiv, kō äp′ər āt΄iv] adj. 1. cooperating or inclined to cooperate 2. designating or of an organization (as for the production or marketing of goods), an apartment house, store, etc. owned by and operated for the… …   English World dictionary

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