Direct answer
What does Shares mean?
Units of ownership in the cooperative corporation allocated to an apartment under the cooperative plan.
Exam cue: Shares are personal property and work with the proprietary lease to create the housing interest.
What does it look like in a question?
New York example
A larger apartment may be allocated more corporate shares than a smaller apartment.
Common exam trap
What should you not confuse it with?
Shares do not give the shareholder a deed to the apartment.
Related condominiums and cooperatives terms
Board packageThe application materials a prospective cooperative purchaser or subtenant submits for board review under the cooperative's procedures.Common chargesAmounts assessed against condominium unit owners for common expenses under the governing documents and budget.Common elementsThe parts of a condominium property owned collectively by unit owners rather than as part of one unit.CondominiumA form of ownership in which a person owns an individual unit and an undivided interest in common elements.CondopA property structure that combines a condominium framework with a cooperative component, often through separately owned condominium units.CooperativeA housing arrangement in which a corporation owns the real property and occupants own shares tied to proprietary leases.
Sources used1 reference with section locators
The curriculum citation confirms exam scope. Definition and rule citations support the explanation itself. Links and locators were checked on August 26, 2026.
Keep learning
Put the term back into its full subject.
A definition helps with recall. The subject guide shows how the rule interacts with documents, scenarios, calculations and practice questions.