How Do Own-your-own Buildings Work?

In an own-your-own "OYO", homeowners do not own the walls-in space of the individual unit. Instead, ownership of an OYO is an undivided interest in the building. This type of ownership is a little more like ownership of a stock where you own a share of the building rather than the physical interior of your unit. Then, along with your share ownership, you have the right to access a specific unit. Now, because ownership of these units is different and unconventional, conventional lenders usually do not write loans on these properties. The lending availability is harder to find and potential buyers will pay premiums in terms of down payment and interest rate in order to finance an OYO.