Property Ownership
What is a 'cooperative' (co-op) housing arrangement and does Idaho commonly use this form?
AThe same as a condominium in Idaho
BA form where residents own shares in a corporation that owns the building, receiving a proprietary lease to their unit; less common in Idaho than condominiums✓ Correct
CA government-owned housing program
DThe same as an HOA-governed subdivision
Explanation
In a cooperative, residents own shares in a corporation that owns the building and receive a proprietary lease to their unit (rather than owning real property). Cooperatives are much less common in Idaho than condominium ownership.
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