Property Ownership
In Washington, a cooperative (co-op) housing arrangement means residents:
AOwn a fee simple interest in their individual unit
BOwn shares in a corporation that holds title to the entire building✓ Correct
CHold a leasehold interest with no ownership rights
DOwn the building jointly as tenants in common
Explanation
In a cooperative, residents own shares in a corporation that holds title to the entire building. Each shareholder receives a proprietary lease giving them the right to occupy a specific unit.
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