Which of the following is a common building ownership structure?

A common building ownership structure is the fee simple arrangement. This type of ownership represents the most complete form of property ownership, where the owner holds all rights to the property, including the land itself and any improvements made on it. In this scenario, the owner has the ability to utilize, lease, sell, or bequeath the property without restrictions, allowing for maximum flexibility and control over the asset. This structure is widely recognized and is the foundation of real estate ownership in many jurisdictions.

Conversely, while leasehold estate is a significant type of property interest, it does not grant full ownership rights because it involves leasing the land rather than owning it outright. Cooperative ownership involves a different model altogether, where residents own shares in a corporation that in turn owns the property, which can complicate the relationship between ownership and control of the building. Joint ventures typically pertain to a collaborative business agreement between two or more parties to manage a project or investment, but do not directly represent a form of property ownership like fee simple does. Therefore, fee simple stands out as the definitive structure that embodies individual ownership rights in real estate.