Property Ownership
A cooperative apartment building in Kentucky is owned by:
AIndividual unit owners in fee simple
BA corporation, with residents owning stock and a proprietary lease✓ Correct
CThe local government
DA condominium association
Explanation
In a cooperative, the building is owned by a corporation. Residents purchase shares in the corporation and receive a proprietary lease entitling them to occupy a specific unit.
Related Kentucky Property Ownership Questions
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