What types of business entities may own real estate?

The correct choice identifies the various types of business entities that are legally recognized and can own real estate. In Colorado, as in many jurisdictions, multiple entity forms are permitted to hold title to real property.

A sole proprietorship can own real estate, although it does not provide any liability protection to the owner. Partnerships can also own property, with assets typically held in the name of the partnership rather than the individual partners. Corporations are entities created under state law and can own real estate as a separate legal entity, thereby shielding the owners from personal liability in most circumstances. Limited Liability Partnerships (LLPs) and Limited Liability Companies (LLCs) offer similar protections and are popular choices for owning real estate, providing liability protection while allowing for flexible management structures.

Each of these entities has distinct characteristics and risks associated with ownership, but they are all valid forms capable of holding real estate in Colorado. Thus, this choice comprehensively reflects the diversity of business entities that can legally own real property.