A housing cooperative or co-op is a corporation whereby the owners don’t own their units outright; instead, each resident is a shareholder.
In a “Market Equity” coop, a member joins the coop, buys a share, and lives in a unit. This is similar to something like a condo complex, but instead of owning one condo, you own a share in the whole complex. Some co-ops are organized to serve people with specific interests and needs, such as communities of artists or senior citizens.
Learn more with this co-op handbook.