HBLB Business and Law Practice Test 2026 – The Comprehensive All-in-One Guide to Exam Success!

A corporation can indeed be the sole owner of a property because corporations, as legal entities, have the capacity to own property in their own name. This ownership is a fundamental characteristic of a corporation, which is recognized as a separate legal entity from its owners (shareholders).

When a corporation acquires property, it does so under its corporate name and can hold, control, and dispose of the property just like an individual would. This includes real estate, personal property, and other assets. The legal structure allows a corporation to own property independently of its shareholders, thus providing a clear distinction regarding ownership and liability.

The other options suggest limitations on property ownership based on the type of corporation, but there is no legal basis for such constraints. Both public and non-profit corporations, like any other corporate structure, can also own property. Therefore, the correct response acknowledges the general principle that a corporation can solely own property.