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A coop/co-op, which is also known as a cooperative share [ or cooperative housing ], is a multi-family housing complex that is owned by a corporation. Instead of purchasing an individual unit, as would be the case with a traditional condominium complex, you purchase a share of the corporation that owns the building. Therefore, you are essentially a shareholder in the corporation, versus a typical homeowner. With a Co-op, each participant [ or shareholder ] gets to occupy a unit in the housing complex.
Co-ops properties are often treated like second homes and are quickly growing in popularity among Orlando vacationers looking for time share real estate.