Borettslag (Norwegian housing cooperative)
In a borettslag you own a share with a right to live in the flat, and you are not liable for the cooperative's joint debt.
In a borettslag you buy a share (andel) that gives you the right to live in a specific home, while the cooperative owns the building. The cooperative can carry joint debt that you pay your share of through the felleskostnader, so reckon the total price as the purchase price plus your share of the joint debt. A borettslag is exempt from dokumentavgift, unlike a selveier home; check for forkjopsrett and the cooperative’s finances before you bid.
Related terms
Fellesgjeld (joint debt of the housing co-op) Felleskostnader (monthly shared costs / common charges) Totalpris (total price = asking price + your share of the joint debt) Forkjøpsrett (right of first refusal in a borettslag) Selveier (freehold / direct ownership) Dokumentavgift (Norwegian document/stamp duty on property) Eierbrøk (ownership share / sameiebrøk)
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