Property Ownership
A cooperative (co-op) differs from a condominium in that co-op residents:
AOwn their unit outright in fee simple
BOwn shares in a corporation that owns the building and hold a proprietary lease✓ Correct
CRent from the government
DHave no right to sell their interest
Explanation
In a cooperative, residents do not own real property directly. Instead, they own shares in the cooperative corporation and receive a proprietary lease entitling them to occupy a unit.
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