Cooperative housing defines a form of home ownership. Each member (home
owner) purchases a share in the
cooperative and participates equally with other members in electing a board
of directors.
Living in a cooperative reflects a new living lifestyle with more of a
village flavor. There is a community
spirit among independent adults who are active and able to live on their own
and also enjoy a larger secure
setting.
The home owner enjoys tax advantages, potential equity growth, use of common
areas, and maintenance–free living.