What type of ownership allows residents of a multiunit housing complex to own shares in a cooperative corporation?

The correct answer is the cooperative (co-op) type of ownership. In a cooperative housing arrangement, residents do not own their individual units outright. Instead, they own shares in a corporation that owns the entire property, including all units and common areas. Each shareholder receives a proprietary lease that grants them the right to occupy a specific unit within the complex. This structure allows residents to collectively manage the property through a board of directors, which often leads to a sense of community and shared responsibility among residents.

In contrast, a condominium ownership allows individuals to own their specific units outright while sharing ownership of common areas with other unit owners. Leasehold ownership refers to a situation where one has the right to use a property for a specified period, typically as part of a lease agreement, without owning the property itself. A timeshare involves multiple owners having rights to use a property at designated times, rather than permanent ownership of a unit. Each of these ownership types has distinct legal and financial implications that differentiate them from a cooperative structure.