Which of the following best describes a cooperative owner?

A cooperative owner is best described as a resident who purchases stock in a corporation that owns a residential building, allowing them to occupy a unit within that building. This structure is characteristic of cooperatives, where instead of owning real property directly, residents buy shares in a corporation that holds the title to the building. As shareholders, they have the right to occupy a specific unit, and their ownership is tied to the corporation's management and rules. This system creates a unique form of homeownership that differs from traditional real estate ownership models, emphasizing a collective ownership structure.

The other options represent different forms of property ownership or residence arrangements. For instance, an individual owning a unit in a multi-unit structure typically refers to condominiums, where ownership is linked directly to real estate. Similarly, a resident who purchases a single-family structure and joins a homeowners' association is engaging in traditional homeownership rather than cooperative ownership. Lastly, someone buying shares of multiple condo units doesn't align with the cooperative model, as it suggests ownership of multiple properties rather than participation in a single corporate entity owning one residential building.