Property Ownership
In Ohio, a 'cooperative' (co-op) housing arrangement differs from a condominium because:
AA co-op owner holds fee simple title to their individual unit
BA co-op owner purchases shares in a corporation that owns the entire building and receives a proprietary lease for their unit✓ Correct
CCo-ops have no common areas
DCo-ops are only available in Columbus and Cleveland
Explanation
In a co-op, residents own shares in a corporation (not fee title to a specific unit) and receive a proprietary lease for their unit. In a condominium, owners hold fee simple title to their individual unit.
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