Mary wants to buy an apartment in a building that is owned by ABC Corporation.Mary then purchases stock in ABC Corporation and holds her apartment under a proprietary lease.Under which ownership has Mary acquired title to such an apartment?

Question

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In a cooperative ownership,a building is owned by a corporation or group of persons.A person who wants to buy an apartment in the building purchases stock in the corporation and holds his apartment under a long-term,renewable lease called a proprietary lease.

Mary Wants to Buy an Apartment in a Building That