Which of the following forms of co-ownership, historically used for apartment buildings, is not considered a form of true direct

Question

3 years ago

13

Which of the following forms of co-ownership, historically used for apartment buildings, is not considered a form of true direct

co-ownership but rather qualifies as a proprietary corporation?A.CooperativeB. Tenancy by the entiretyC. CondominiumD. Partnership

Business

1 answer:

barxatty [35] · Answer 1 · 2022-05-03T19:27:56+03:00

Answer:

The correct answer is letter "A": Cooperative.

Explanation:

Cooperatives or co-ops are not real state ownerships but imply being in charge of a property under a lease agreement. Similar to condominiums, individuals can live in an apartment that belongs to an owner that in co-ops are companies. The tenant purchases stocks of the company becoming a stakeholder and in return, the company provides the tenant an apartment with a lease agreement for the possession of the property.