Stock Cooperative

A condominium project is one of the four types of CIDs that are considered common interest developments in Civil Code section 4100. Under Civil Code section 4190, a stock cooperative is a CID in which an association holds or a leasehold interest in or title to improved real property, and the shareholders in the corporation receive an exclusive right to occupy a portion of the property. The owner’s interest is considered an interest in a common interest development. However lenders often consider that an owner’s interest is not an interest in real property that would entitle an owner to obtain a loan and give a mortgage or deed of trust to secure the loan.

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