Property type·7 min read·Sample: Coop1
Cooperative (co-op) appraisals in UAD 3.6
Why co-ops model ownership differently, and what that means for the estate type and interest fields — using the Coop1 sample scenario.
Ask the copilot about this guide — it has read the whole hub and cites what it uses.
A co-op looks like a condo and models like something else entirely. The borrower doesn't own real property — they own shares in a corporation and hold a proprietary lease on their unit. That one legal fact is the whole reason co-ops get their own treatment: the ownership and interest data can't be modeled as fee-simple, and if you try, a chain of conditional edits lights up.
- $548,999
- Coop1 opinion of value
- 1971
- Year built
- High-rise
- Structure design
- Cooperative
- Project legal structure
Coop1 is a traditional appraisal of an attached high-rise co-op unit — the reference for how share/lease ownership gets modeled without fee-simple.
Ownership is the crux — get it right first
The estate type and the real-property-interest containers have to reflect the share-and-lease structure, not a deed. This isn't a field you fix at the end — it sits upstream of a lot of conditional logic, so an incorrect estate type produces a cascade of downstream edits that look unrelated. Set it correctly early and most of the rest of the report falls into place.
The proprietary lease has its own required data
Because ownership runs through a lease, the report captures details a fee-simple appraisal never would — including when that lease expires. And UAD 3.6 is exacting about the format: the expiration date is a year-and-month value, and "close enough" fails.
- Rule logic
If CooperativeProprietaryLeaseExpirationDate is not provided in YYYY-MM format.- Fix
- Provide the proprietary lease expiration in YYYY-MM format (e.g. 2071-06). A full date or a different format is rejected.
- Seen in a sample
2060-11in Cooperative (Coop1)
A co-op is still a project
Under all the ownership specifics, a co-op is a project — so the project-level requirements from the condominium guide apply here too, legal structure type in particular. Think of a co-op report as "the condo project rules, plus a share/lease ownership model on top."
Keep reading
- Completing a single-family URAR in UAD 3.6A walk-through of the detached single-family assignment using the five SF sample scenarios — from subject identification through the cost approach and reconciliation.10 min
- Condominium appraisals in UAD 3.6Project data, ownership interest, and unit-level modeling for attached condominium units — using the two condo sample scenarios.8 min