In a co-op, the unit occupants do not own a real estate interest.
Correct Answer:
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Q1: A condominium unit cannot be mortgaged.
Q2: A co-op interest cannot be mortgaged or
Q4: Transfer restrictions on co-op interests are invalid.
Q5: Time-sharing interests can be fee simple interests.
Q6: The Uniform Condominium Act has been adopted
Q7: A Declaration of Horizontal Property Regime is
Q8: Common areas are specified in the Declaration
Q9: Condominium owners have no ownership rights in
Q10: Bylaws specify meeting requirements.
Q11: A proprietary lease is used in a
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