Property Ownership
In Florida, a 'cooperative' (co-op) housing arrangement differs from a condominium in that:
ACo-op owners hold fee simple title to their units
BCo-op residents own shares in a corporation that owns the building, not fee simple title to their unit✓ Correct
CCo-ops are not subject to any state laws
DCo-ops are only found in commercial buildings
Explanation
In a cooperative, residents own shares in a corporation that holds title to the building. Residents receive a proprietary lease for their unit rather than fee simple title.
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