Property Ownership
A cooperative (co-op) owner holds:
AA fee simple interest in their unit
BShares in a corporation and a proprietary lease for their unit✓ Correct
CA life estate in the unit
DA tenancy in common with all other unit owners
Explanation
In a cooperative, owners purchase shares in the corporation that owns the building. Those shares entitle the holder to a proprietary lease for a specific unit. The owner does not hold a deed to real property — they hold personal property (corporate shares).
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