How is a cooperative building owned?

Answer The residents are shareholders in a corporation that owns the building, and shareholders are given exclusive use of residences or units.

Top Q&A For: How is a cooperative building owned

How would a group of churches acting as one entity get liability coverage for a food pantry set up in a city owned building without incorporating?

Contact an agent in your area, if they do not sell this type of coverage/policy they will be able to refer you an agent that does.

Does an elevator which exclusively serves two separately owned apartments on the third floor of a three story condominium building provide service to a single family dwelling?

Your question is complex. First, the elevator serves owned apartments in a condominium building. Then the elevator may be known as a limited common element.Since the elevator serves both units, the... Read More »

My new neighbour is building something under his house.. it is illegal building work - what to do?

You're an architect.You see a hazard that others may be unable to recognize.Report it. - Ethically, You have no choice.

Is the outside dryer vent cover on a 5 story condo building a common element to be repaired by owner or building maintenance?

Your governing documents will specify ownership of the dryer vent cover. Lacking any definition for the cover per se, look for text that covers ownership of the 'dryer vent' with the understanding ... Read More »