§ 4640 Stock Cooperative Ownership Transfer

• •If you sell or transfer your home in a stock cooperative, you also transfer your ownership share in the cooperative corporation.
• •If you sell or transfer your entire property (like in a court sale), your membership in the cooperative association is also transferred.
• •This rule applies whether you sell your home willingly or are forced to (like in a foreclosure).

You own an apartment in a cooperative building and decide to sell it.

When you sell your apartment, the buyer automatically gets your share of the cooperative corporation too. You can’t keep your ownership share separate.