What is a co-op?
Written By: Erik J. Martin | Featuring: Scott M. Smiler | Partner at Gallet, Dreyer & Berkey LLP
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What if you could own shares in a residence, just as you can own shares on the stock market, but also be allowed to live in that residence? This is possible when you buy into a co-op, also known as a housing cooperative. If you’re in the market for a condo purchase or apartment rental, you might also be considering purchasing shares in a co-op. Co-ops offer some advantages over condos and other housing options, but they also have their drawbacks.
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