Which document allows a co-op owner to use their unit?

The proprietary lease is the correct document that allows a co-op owner to use their unit. In a cooperative housing arrangement, the ownership structure is different from traditional homeownership. Instead of owning the unit itself, residents own shares in a corporation that owns the entire property.

The proprietary lease is issued to shareholders of the co-op and grants them exclusive rights to occupy a specific unit within the co-op. This lease acts similar to a traditional lease, specifying the terms under which the shareholder may use their unit, including usage rights, responsibilities, and obligations to the co-op corporation.

Understanding the role of the proprietary lease is crucial for co-op owners because it defines their rights within the cooperative structure, distinguishing it from other types of ownership documents such as a deed or a share certificate, which do not convey direct rights to occupy a specific unit. A deed is primarily used in individual ownership situations, while a share certificate represents ownership shares in the co-op and does not address occupancy rights directly.