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Cooperative or co op

• Refers to a form of real estate ownership. Here, the property is owned by shareholders. Each shareholder owns proprietary rights to a specific unit or dwelling while also owning an interest in the entire property. In many places, loans for such properties are effectively personal loans securitized by the shares of ownership. This is different from the usual real estate mortgage loan which is directly secured by the underlying real property. The term can also refer to a business arrangement whereby parties of similar interest combine their activities. One example of this would be a farmers cooperative to market grain or produce; operate and own storage facilities; or operate and own equipment.

 
 Embedded terms in definition
 Interest
Market
Mortgage
Real estate
Rights
Secured
Shareholders
Shares
Underlying
Unit

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Do not let yourselves be discouraged or embittered by the smallness of the success you are likely to achieve in trying to make life better. You certainly would not be able, in a single generation, to create an earthly paradise. Who could expect that? But, if you make life ever so little better, you will have done splendidly, and your lives will have been worthwhile. - Arnold Toynbee

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