One difference between a cooperative estate and a ...

Texas Real Estate Practice Exam Latest Update And Verified

One difference between a cooperative estate and a condominium estate is that:

a condominium owner owns a unit of air space whereas the co-op owner owns a proprietary lease.

A condominium sale adversely affects other unit owners.

The co-op owner owns stock and a freehold real estate interest whereas the condominium owner simply a proprietary lease.

The condominium owner owns the common elements and the air space whereas the co-op owner only owns the apartment.

✔ Correct Answer:

a condominium owner owns a unit of air space whereas the co-op owner owns a proprietary lease.