Property Ownership
In Connecticut, a 'cooperative' (co-op) ownership means the owner:
AHolds fee simple title to their unit
BOwns shares in a corporation that owns the building and has a proprietary lease on their unit✓ Correct
CRents the unit from the city
DShares undivided ownership of the entire building with no individual unit
Explanation
In a cooperative, residents purchase shares in a corporation that owns the entire building. Shareholders receive a proprietary lease for their unit.
Related Connecticut Property Ownership Questions
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