Property Ownership
A cooperative (co-op) arrangement for housing in Alaska differs from a condominium primarily because co-op owners:
AOwn fee simple title to their individual units
BOwn shares in a corporation that owns the building and receive a proprietary lease for their unit✓ Correct
CHold a joint tenancy interest with all other residents
DPay no property taxes on their units
Explanation
In a cooperative, residents do not own real property directly. Instead, they own shares in the cooperative corporation that owns the entire building.
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