What right does an individual with a membership certificate in a cooperative community obtain?

An individual with a membership certificate in a cooperative community obtains a proprietary lease. This lease allows the member to occupy a specific unit within the cooperative. Unlike traditional property ownership where individuals hold title to real estate, cooperative members purchase shares in the cooperative corporation, which entitles them to the exclusive right to use and enjoy a unit under a proprietary lease.

This structure is designed to create a collective ownership model where all members have an interest in the property's overall management and maintenance, thus promoting cooperation and shared responsibility among residents. The proprietary lease serves as a legal document that defines the rights and responsibilities of the member, ensuring that they have a secure promise of occupancy as long as they comply with the cooperative's rules and obligations.

The other options, while related to property ownership concepts, do not accurately describe the specific rights conferred by a membership certificate in a cooperative community.