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.