''Borettslag'' is the
legal entity for
housing cooperative
A housing cooperative, or housing co-op, is a legal entity, usually a cooperative or a corporation, which owns real estate, consisting of one or more residential buildings; it is one type of housing tenure. Housing cooperatives are a distinc ...
s in
Norway. The company is owned by those who live in the cooperative, the partholders. Each part gives the right to live in the cooperative, and thus in a particular apartment or house. A partholder is free to sell their part, but the cooperative
statute
A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by le ...
can give internal
first refusal. The ''borettslag'' owns the buildings and ground the buildings are on. The highest authority in the cooperative is the
Annual general meeting that elects the
board of directors
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...
, who are responsible for daily operations.
Usually a large share of the
construction costs of the property is financed through common
debt, that is issued to the cooperative, and not to the individuals. This debt, along with the costs to cover running the grounds, is charged to the owners as
rent. Some cooperatives are members of a
housing association, which again are members of the
Norwegian Federation of Co-operative Housing Associations
Norwegian, Norwayan, or Norsk may refer to:
*Something of, from, or related to Norway, a country in northwestern Europe
*Norwegians, both a nation and an ethnic group native to Norway
*Demographics of Norway
*The Norwegian language, including the ...
. Previously only housing associations could create cooperatives, but now this right is also granted to commercial developers, who often create smaller cooperatives.
{{Norwegian type of company
Types of companies of Norway
Housing cooperatives in Norway
no:Borettslag
nn:Bustadsamvirket