Which type of ownership allows individuals to hold property in shares and have the rights to occupy the property?

Cooperative ownership is a unique form of property ownership where individuals do not own individual units outright but instead purchase shares in a corporation that owns the property. In this type of ownership, the shareholders have the right to occupy specific units within the building or property based on the shares they own. This arrangement allows for shared expenses and collective decision-making, as the cooperative operates under bylaws and rules established by its members.

In contrast, tenancy in common, condominium ownership, and joint tenancy involve different ownership structures where individuals hold titles to specific portions of the property or full ownership of their unit, rather than shares in a collective entity. For example, in a condominium, each owner holds a deed to their unit and a shared interest in common areas. Understanding these distinctions is essential as they relate to the rights and responsibilities of property owners in different housing arrangements.