Which of the following describes a cooperative owner?

A cooperative owner is best described as a resident who purchases stock in a corporation and occupies a unit. In a cooperative housing arrangement, individuals do not own their residential units outright. Instead, they buy shares in a corporation that owns the property. These shares give them the right to occupy a specific unit within the building. This structure sets cooperatives apart from condominiums, where individuals own their specific units directly. The cooperative model is designed to promote shared ownership and collective governance, emphasizing the cooperative nature of living arrangements where residents are often involved in decision-making processes related to the property. This is why the description of a cooperative owner as someone who buys stock in a corporation and occupies a unit is accurate and aligns with the basic principles of cooperative housing.