Which of the following describes a Cooperative owned in severalty?

The correct answer describes a situation where ownership of a cooperative is held by a single entity. In the context of cooperatives, "owned in severalty" means that ownership is not shared among multiple individuals but rather is held exclusively by one party, which may include a non-profit corporation that owns a building.

In cooperative structures, typically multiple stakeholders may hold shares or interests, but when ownership is described as being in severalty, it highlights a scenario where all rights and responsibilities are centralized under one entity. This can align with the operations of a non-profit corporation that manages a building, as they can have distinct ownership and governance separate from the members or residents who may live there.

This option resonates well with the concept of a cooperative being owned by an organization that is intended to serve specific community or organizational needs rather than making profits like a typical corporate entity would.