Limited equity housing cooperative means the form of ownership defined in Section 11003.4(a) of the Business and Professions Code, which limits the increase of share values to below 10 percent annually, as well as prohibits more than 10 percent of the
Limited equity housing cooperative means a limited equity coop-
Limited equity housing cooperative means a corporation that meets the criteria of Business and Professional Code Section 11003.2 and which also meets the criteria of Health and Safety Code Section 33007.5.
Examples of Limited equity housing cooperative in a sentence
The CLT has the right to repurchase the dwelling or unit to preserve the dwelling or unit as affordable to qualified owners.17• Limited equity housing cooperative.
More Definitions of Limited equity housing cooperative
Limited equity housing cooperative means a housing cooperative organized in accordance with California Health and Safety Code Section 33007.6 and Business and Professional Code Section 11003.4. A limited equity housing cooperative is owned by a non-profit corporation or housing sponsor. Resident-owners own the cooperative as an individual whole, rather than individuals units within a development.
Limited equity housing cooperative means a cooperative housing association or
Limited equity housing cooperative means aEquity Housing Cooperative: A cooperative housing corporation, either domestic or foreign, qualified in the State of Maryland, either stock or nonstock, in which each shareholder or member has a cooperative interest in the corporation and in which the appreciation of share values or membership interests is limited to the annual rate of inflation or other comparable index.
Limited equity housing cooperative means a stock coopera tive corporation which is organized as a nonprofit corporation under sections 416-19 and 416-26 for the purpose ofholding title to, either in fee simple or for a term of years, improved real property, if all or substantially all of the shareholders of such corporation receive a right ofexclusive occupancy in a portion of the real property, title to which is held by the corporation, which right of occupancy is transferable only concurrently with the transfer ofthe share or shares ofstock in the corporation held by the person having such right of occupancy; provided the corpo ration also:
Limited equity housing cooperative means a cooperative owned by a non-profit corporation or non-profit housing sponsor, in which the resident- owners own the cooperative as an undivided whole, rather than as individual units, with the exclusive right to occupy a specific unit within the cooperative, and, where the resident-owner must be bought out of their ownership to separate from the limited equity housing cooperative.
Limited equity housing cooperative means a corporation organized pursuant to Section 33007.5 of this code and Section 11003.4 of the Business and Professions Code. For purposes of this division, a limited equity housing cooperative is a nonprofit corporation or nonprofit housing sponsor. However, a limited equity housing cooperative shall not be deemed to be nonprofit for the purpose of Chapter 10 (commencing with Section 50775).
Limited equity housing cooperative means a cooperative housing association or corporation organized and operated primarily for the benefit of low and moderate income persons, having articles of incorporation and whose equity, after allowance for maximum transfer value of its stock, is permanently dedicated to providing housing to persons of low and moderate income or to a charitable purpose.