Which legal structure can allow properties to be owned and managed by a collective of individuals?

The correct option indicates that all the listed legal structures—Corporation, Partnership, and LLC—can indeed allow for properties to be owned and managed collectively by individuals.

A corporation is a legal entity that can own property, allowing shareholders to collectively manage and benefit from the assets held by the corporation. Partnerships involve two or more individuals who come together to share ownership and the responsibilities of managing properties. In a partnership, each partner typically has an equal say in decision-making regarding the property.

A Limited Liability Company (LLC) also provides a flexible structure for individuals to collectively manage properties while enjoying limited liability protection. An LLC can combine the organizational flexibility associated with a partnership while providing the liability protection characteristic of a corporation.

Thus, this option encompasses all legal structures mentioned, highlighting their capacity to facilitate collective ownership and management of properties. Each structure provides unique advantages depending on the specific needs and goals of the individuals involved.