Property Ownership
In Wyoming, a cooperative (co-op) differs from a condominium because cooperative owners:
AOwn fee simple title to their unit
BOwn shares in a corporation that owns the building, with proprietary leases for their units✓ Correct
CAre exempt from property taxes
DHave no voting rights in management decisions
Explanation
In a cooperative, residents own shares in a corporation that holds title to the entire building, and each shareholder receives a proprietary lease for their unit. Co-ops are less common than condominiums in Wyoming. Condominium owners, by contrast, hold fee simple title to their unit.
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