Property Ownership
In Florida, a 'cooperative' (co-op) differs from a condominium in that co-op residents:
AOwn their unit as real property with a deed
BOwn shares in a corporation that holds title to the entire building✓ Correct
CHave fewer rights than condo owners under Florida law
DCannot sublease their units under any circumstances
Explanation
In a cooperative, residents own shares in a corporation (or other entity) that owns the entire building. They receive a proprietary lease giving them the right to occupy a specific unit. Unlike condominiums, co-op residents don't receive a deed — their interest is personal property (shares), not real property.
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