In a cooperative, what do owners generally need to sell their units?

In a cooperative, owners typically need to obtain approval from the cooperative's board to sell their units. This requirement is rooted in the unique structure of cooperatives, where residents do not own their individual units outright but rather own shares in the cooperative corporation that owns the entire building or complex. The board's approval is necessary to maintain the integrity of the community, ensure that prospective buyers meet the cooperative's criteria, and uphold the overall financial stability of the cooperative.

Other options, while they might seem plausible, do not accurately represent the common practices in a cooperative. For instance, a majority vote from other residents is generally not required, as decisions about sales and admissions primarily rest with the board. Additionally, permission from the original developer is usually irrelevant once the cooperative is established and operating independently, as the developer typically relinquishes control after selling their stake. While a real estate agent can facilitate the sale process, their assistance is not a requirement for selling a unit in a cooperative.