Property Ownership
An Indiana cooperative (co-op) housing arrangement differs from a condominium because:
ACo-op owners own their individual units in fee simple
BCo-op residents own shares of a corporation that owns the building, receiving a proprietary lease for their unit, rather than owning real property✓ Correct
CCo-ops are only available for commercial use
DCo-ops have no monthly fees
Explanation
In a cooperative, residents own shares in a corporation that owns the building. They receive a proprietary lease for their unit rather than holding real property title.
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