Finance
A NC 'cooperative apartment' (co-op) financing differs from condo financing in that the buyer:
AObtains a regular mortgage on the unit
BObtains a 'share loan' (personal property loan) secured by their shares in the cooperative corporation✓ Correct
CPays in full without financing
DObtains financing from the co-op directly
Explanation
Co-op buyers receive a share loan (secured by cooperative stock and the proprietary lease) rather than a traditional real property mortgage, since they own shares rather than real estate.
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