Property Ownership
In Michigan, a cooperative (co-op) apartment buyer acquires:
AFee simple title to their unit
BShares in a corporation plus a proprietary lease for their unit✓ Correct
CAn undivided interest in the entire building
DA leasehold interest for a fixed term
Explanation
In a cooperative, buyers purchase shares in the cooperative corporation that owns the building and receive a proprietary lease entitling them to occupy their specific unit.
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