Limited equity coop(erative)
a form of housing tenure in which shareholder residents manage their buildings, within limits imposed by a charter, and have the right to recover the costs and payments that they have paid for their shares, plus an allowance for improvements, if and when they decide to leave.[1]
[1] Duncan Kennedy, “The Limited Equity Coop as a Vehicle for Affordable Housing in a Race and Class Divided Society,” 46 Howard Law Journal 85–125, 85 (fall 2002).
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