Property OwnershipGeneralEASY
A New York condominium differs from a cooperative because:
Correct Answer
B) Condo owners have a deed to their unit
Condo owners receive a deed to their unit (real property); co-op owners hold shares (personal property).
Answer Options
A
Condos are less expensiveB
Condo owners have a deed to their unitC
Co-ops have more amenitiesD
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Related Topics & Key Terms
Related Topics:
property-typesownership-interestsreal-property-vs-personal-property
Key Terms:
condominiumcooperativedeedproprietary leasereal property vs personal property
Related Concepts
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
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