Property Ownership
A cooperative (co-op) owner in New Jersey holds:
AFee simple title to the unit
BShares of stock in the cooperative corporation plus a proprietary lease✓ Correct
CA condominium deed
DA tenancy at will
Explanation
Co-op owners receive shares of the cooperative corporation and a proprietary lease to their unit. They do not hold fee simple title to real property as condo owners do.
Related New Jersey Property Ownership Questions
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- New Jersey recognizes tenancy by the entirety as a form of co-ownership. This form is available:
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