In a cooperative association, who owns all of the property?

In a cooperative association, all of the property is owned collectively by the corporation that represents the members. This means that the individual members do not own separate interests in the property; rather, they own shares in the corporation, which in turn owns the property. This structure allows members to share the benefits and responsibilities that come with property ownership, like maintenance and management, but under one corporate entity.

This organizational model fosters a cooperative community where members have a say in decision-making processes through their ownership of shares. It's important to note that while the members enjoy the rights to use the property and participate in governance, it is the corporation that holds the legal title to the property, maintaining all ownership rights. This setup is fundamental to the functioning of cooperative housing and is distinct from other forms of ownership like condominiums or individual ownership.