ULC

Legislative Fact Sheet - Real Estate Cooperative

Act Real Estate Cooperative
Origin Completed by the Uniform Law Commission in 1981.
Description This is a companion act to the Uniform Condominium Act and the Uniform Planned Community Act. Real estate cooperatives are created when an association assumes title to real property, which then is leased back to its members. Each member, also, owns a share of the association. The Model Act provides comprehensive legislation governing the critical phases of cooperative development: creation, financing, management, and termination.
Endorsements
Enactments Virginia
2018 Introductions
Staff Liaison(s) Benjamin Orzeske