who owns a house if it's in a co-op
Unlike condos, which are individually owned by buyers, a co-op is owned by a small corporation. When you buy into a co-op, youâre purchasing shares of that corporation that entitle you to an exclusive leasehold on your unit. Typically, the larger the co-op unit, the more shares you own.
999 N. Lake Shore Drive, a co-op owned residential building in Chicago, Illinois, United States. A housing cooperative, or co-op, is a legal entity, usually a cooperative or a corporation, which owns real estate, consisting of one or more residential buildings; it is one type of housing tenure.