Cooperative
Also known as Co-op
Housing where you buy shares in a corporation that owns the building, not the unit itself.
In plain English
In a housing cooperative, you don't own real property directly — you own shares in a corporation that owns the entire building, along with a proprietary lease giving you the right to occupy a specific unit.
Co-ops often have stricter, more personal board approval processes than condos, and financing works a bit differently — worth confirming with your lender early if you're considering one.
Where you'll run into it
Guides and tools on TheBuyingPath that cover cooperative in context.
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