Which of the following is NOT a legal form of property ownership?

Syndicates are typically informal associations of individuals or entities that come together for a specific investment purpose, such as purchasing real estate. While this can be a common way for investors to collaborate, syndicates themselves do not constitute a legal form of property ownership recognized in the way that sole proprietorships, partnerships, and corporations are established under law.

A sole proprietorship is a legal form of ownership where one individual owns and operates a business, which can include real estate holdings. Partnerships involve two or more people who share ownership and management responsibilities, allowing them to own property together legally. Corporations are structured entities that can own property, enter contracts, and conduct business independently of their shareholders.

These recognized forms of ownership are subject to regulations and provide certain legal protections under the law, unlike syndicates, which may lack formal legal recognition, making them an informal arrangement rather than a legally recognized entity for property ownership.