What type of ownership involves residents owning stock in a corporation that owns the property?

The correct answer is cooperative because, in this type of ownership, residents do not own their individual units outright; rather, they own shares in a corporation that collectively owns the entire property. This structure means that by purchasing stock in the cooperative, residents gain the right to occupy a specific unit and participate in the operational decisions of the corporation. The cooperative framework often includes communal responsibilities for maintenance and management, distinguishing it from other types of ownership.

In contrast, condominiums involve individual ownership of units along with a shared interest in common areas, allowing residents to hold title to their individual properties. A single-family residence refers to an independent home owned by one individual or family, while a multi-family dwelling often suggests investment properties like duplexes or apartment buildings owned by one entity. These other forms of ownership do not entail the stock ownership model characteristic of cooperatives.