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Ownership Types

Fee Simple: The seller has complete and total ownership of a piece of land and all properties on it

Condominium: The seller owns the interior of a unit but shares an ownership interest in the land and common areas with other owners in the building.

Co-Operative: A cooperative (or “co-op”) is a multi-unit building where each resident owns an interest in the building.

Leasehold: The seller has the right to occupy the property but not sell it.

Timeshare: Fractional ownership, where buyers purchase the right to occupy a unit of real estate over specified periods.