What type of ownership interest does a co-op resident have?

A co-op resident holds a leasehold interest in their unit. In a cooperative housing arrangement, the resident does not own their individual apartment outright as they would in a traditional home ownership scenario. Instead, they own shares in a corporation that owns the entire building. This means that the resident has the right to occupy their specific unit through a lease agreement with the cooperative.

This setup is distinct from a freehold interest, where a person has full ownership of both the property and the land it sits on. Shared interest generally refers to various forms of property ownership that allow for shared use but do not specifically apply to the co-op model. Lastly, time-share interest involves sharing ownership of a property for specific time periods, which does not align with the arrangement found in cooperative housing. Therefore, the leasehold interest is the appropriate characterization of a co-op resident's ownership rights.