A type of communal ownership of a property. For example residents of a multiple unit complex all own shares in a corporation that has ownership of the property. The residents do not own their own unit. This is also known as a co-op.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser