Property Ownership
What type of ownership interest does a cooperative apartment purchaser actually hold?
AFee simple title to their individual unit
BA leasehold interest plus shares of stock in the cooperative corporation✓ Correct
CTenancy in common in the entire building
DA life estate in their unit
Explanation
In a cooperative, the buyer purchases shares of stock in a cooperative corporation and receives a proprietary lease entitling them to occupy a specific unit — not fee simple title to the unit itself.
Related Georgia Property Ownership Questions
- Under Georgia law, a 'tenancy by the entireties' (joint ownership by married couples) is:
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- A lis pendens recorded against a property in Georgia provides notice that:
- Which of the following is a characteristic of tenancy in common in Georgia?
- The landlord's interest (ownership) retained when creating a leasehold is called the:
- The doctrine of merger (related to deed covenants) means that when a fee simple estate is created, lesser interests previously held:
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