Answer:
Cooperative apartment
Explanation:
Cooperative
This is simply refered to as a housing ( dwelling) unit that is said to be owned by a corporation whereby owners of these dwelling units owns stock that is equal commensurate) with the value of his or her apartment when compared to the value of the building as a whole. The stockholder therefore has a proprietary lease to the apartment.
Key documents in a cooperative sale/purchase:they includes;
1) Contract of sale: Buyer, seller, purchase price, financial requirements and also subject to approval
2) Offering plan: this contains all the key information that is required to be disclosed about the cooperative or the condo.
3) Amendments to the offering plan etc.
