Who Are The Land Owner In A Co-op Housing Society?

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If you are looking to buy an apartment complex in a housing society, it can be confusing to know who exactly owns what. Or what your ownership rights are.

In a Housing Society or Housing Cooperative, the Housing Cooperative owns the land, and the individual apartment unit owners own a share in the cooperative. The Housing Cooperative holds the property title on the land and building, and the housing cooperative members have shares in the Housing Cooperative.

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Cooperative Ownership Owns the Land

The entire cooperative owns the land, buildings, and common areas in a housing cooperative. The member of the cooperative will buy shares in the cooperative.

The housing cooperative members will own the percentage or shares in the cooperative according to the value of the units they own. Larger and more expensive units will hold more of the cooperative, and smaller units will own less.

Housing cooperatives are essential as they can be less expensive than condominiums. A housing cooperative is usually formed when people come together to own and control a building they live in.

Here are a few things to remember about Housing Cooperatives and land ownership:

The Pros And Cons Of Housing Cooperatives

Like many other things to do with real estate aspects, there is no clear answer if a housing cooperative is a good or bad investment.

There can be both Pros and Cons of a housing cooperative.

Pros of Owning A Share In A Housing Cooperative

Housing cooperatives are still very popular, especially in many larger cities. There are some pros to owning a unit in a housing cooperative,

Here are some of the Pros of owning a unit in a Housing Cooperative:

Listen To Our Podcast About Who Owns The Land If You Are Living In A Cooperative Society? by clicking here.

Cons Of Owning A Share In A Housing Cooperative

There are also some cons of owning a share in a housing cooperative. Here are some of the significant cons of a housing cooperative:

Housing Cooperatives continue to be famous around the world. Many people who live in housing cooperatives feel they have a better quality of life.

Many people may like the cooperative housing concept as they know their neighbors and can have a say in who can come into the housing cooperative. As the housing cooperatives usually elect a board of directors, the cooperative members have a say in how the cooperative is run and operated.

But in a Housing Cooperative, you do not hold the property title but own the shares in the cooperative. The housing cooperative owns the property title for the land and building of the housing cooperative.

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Anita Hummel
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