Which of the following is a true statement regarding ownership of property by corporations?

The statement that corporations can be sole owners of properties is accurate and reflects how corporate ownership works. In legal terms, a corporation is recognized as a separate legal entity, which enables it to own, buy, sell, lease, and otherwise manage property independently of its shareholders or other entities. This means a corporation can own real estate, buildings, vehicles, and other assets without sharing ownership, functioning autonomously in its property dealings.

Corporations have the same legal rights as individuals to own property. They can acquire the title to assets and are responsible for any liabilities related to those properties. This autonomy is key to the corporate structure, as it protects individual shareholders from personal liability regarding corporate debts and obligations, thus facilitating business operations.

On the other hand, the other statements do not accurately represent the realities of corporate property ownership. Corporations can indeed own property in foreign countries without special restrictions beyond complying with local laws. They do not need to apply for any special status to own property and can fully own assets without the necessity of sharing ownership with other parties; thus, the assertion that they must always share property ownership is incorrect.