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28 February, 08:29

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

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  1. 28 February, 08:36
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    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.
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Home » Business » 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.
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