Property Ownership
Which of the following best describes a 'cooperative' (co-op) residential ownership in South Carolina?
AOwnership of a specific unit in fee simple
BOwnership of shares in a corporation that owns the building, with a lease for a specific unit✓ Correct
CA form of government-subsidized housing
DA partnership between multiple homebuyers
Explanation
In a cooperative, residents own shares in the corporation that owns the entire building. Each shareholder has a proprietary lease entitling them to occupy a specific unit.
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