A condominium differs from a cooperative in that a tenant in the latter:
A) rents his apartment from the cooperative.
B) owns his apartment in cooperation with others.
C) owns all the space except the common areas.
D) owns only the internal space.

Question

Quizplus · Accepted Answer

In a cooperative, tenants do not actually own their apartment unit. Rather, they own a share in the entire cooperative building and are essentially renting their unit from the cooperative. In contrast, in a condominium, each unit owner actually owns their individual unit and a percentage of the common areas. Therefore, option A is correct as it correctly distinguishes the ownership structure of a cooperative.

A Condominium Differs from a Cooperative in That a Tenant