Final answer:
A CO-OP can be either a freehold or a leasehold property, depending on its ownership structure.
Step-by-step explanation:
A CO-OP can be either a freehold or a leasehold property, depending on its ownership structure. In a co-operative (CO-OP), multiple individuals or businesses jointly own and operate the property. The ownership of a CO-OP can be in the form of shares, where each owner has a share in the property.
If the CO-OP is structured as a freehold, the owners have outright ownership of the property and the land on which it sits. They have control over the property and can use it as they wish. On the other hand, if the CO-OP is structured as a leasehold, the owners hold a lease on the property for a specific period of time, usually with a long-term lease agreement.