Vermont Statutes Title 11 Sec. 1586
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 11 Sec. 1586
- Cooperative interest: means the ownership interest in a cooperative housing corporation which is evidenced by a membership share. See
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.
§ 1586. Property classification of cooperative interest
(a) A cooperative interest is personal property.
(b) The possessory interest evidenced by a proprietary lease is a part of and may not be severed from a cooperative interest. (Added 1987, No. 254 (Adj. Sess.), § 1, eff. June 16, 1988.)