3 ms·
> Also in Sweden for apartments, you don't own it. Most apartments for sale is so called "Bostadsrätter" which means you own a percentage of the association tha
by lg 9y ago
> Also in Sweden for apartments, you don't own it. Most apartments for sale is so called "Bostadsrätter" which means you own a percentage of the association that owns the apartment building(s). If the association/organization has a bad economy and can't pay the debt they could be forced to sell the entire apartment building(s) and you'd loose your apartment while still having a loan to the bank.
In the US we call these co-ops and they are mostly an NYC phenomenon. Fun fact, some co-ops don't own the land they sit on, they rent it. And those rents get renegotiated every 30 years, potentially making a bunch of co-op owners suddenly unable to afford their monthly maintenance payments.
- cjg_ 9y agoSome associations in Sweden does not own the land either (renting from the city) and that rent was increased just some time ago.
- nikanj 9y agoThe Swedish system sounds closer to a strata system https://en.wikipedia.org/wiki/Strata_title https://en.wikipedia.org/wiki/Strata_title
- staticelf 9y agoIt's a shitty system, thats why we also now have "Äganderätter" which basically means "owned rights" which means you cannot be forced to sell. Unfortunately, not many buildings have that.
- nisse72 9y agoIt's not actually. Unlike strata, in a Swedish "Brf" you don't actually hold title to any real estate. As the GP says, you own a share in a co-op that itself owns the real estate, and that gives you the right to use the apartment that corresponds to your share. Something similar to strata title has been discussed for many years in Sweden: ägarlägenheter. I don't know whether anything has ever come of it, however.