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What is Being Purchased When I Buy in Leisure World Seal Beach?

Steve Marsh May 15, 2014
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There are sixteen Mutual Corporations within the community of Seal Beach Leisure World. Mutual 1-12 and 14-16 (there is no 13), consist of cooperative one and two bedroom apartments, and Mutual 17 consists of two bedroom, 2 bath condominiums. When someone “buys” a cooperative apartment, they are purchasing a share of stock with rights of occupancy to that particular apartment and they become a shareholder.” When someone buys a condominium, the purchase is processed just like the purchase outside of the community and they become an owner.

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