When you lease your apartment from a nonprofit corporation that owns the building and you own a share of the nonprofit corporation,you own:

Question

Quizplus · Accepted Answer

In a cooperative apartment, the residents own shares in the nonprofit corporation that owns the building, rather than owning the physical apartment itself. This means that while residents have the right to live in a specific unit, they do not own the unit as a piece of property. Therefore, since you own a share of the nonprofit corporation in this scenario, you would own a cooperative apartment.

When You Lease Your Apartment from a Nonprofit Corporation That