Form of ownership

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Form of ownership cohousing communities typically have one of three existing legal forms of ownership: private ownership with common areas owned by the residents’ association, condominium, and housing cooperatives. Condominium ownership is the most common because it conforms to models of financial institutions and public record of ownership for housing structures with multiple owners. Financial institutions make loans more easily in private ownership patterns in co-ownership or condominium. The cohousing differs from traditional condominium developments or condominium subdivisions where development is designed by or with considerable input from its future residents. The design process invariably emphasizes consciously social relations among residents. The community facilities are based on real needs of residents rather than on the ideas of the developer looking to make their sale attractive.The speculation in the cohousing is typically very low, and there is usually waiting lists for available units.

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