cooperative interest

cooperative interest
USA
With respect to real property, an ownership interest in a cooperative organization, which interest, when created, is coupled with possessory rights of a proprietary nature in identified physical space belonging to the cooperative organization. A subsequent termination of the possessory rights shall not cause an ownership interest to cease being a cooperative interest (UCC §9-102(a)(27-b)).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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