An owner of a cooperative apartment project makes monthly payments which include principal, interest, taxes, and insurance. Which of the following statements is NOT correct?
a. Tax collector will render a separate tax bill to each owner.
b. Assessment bond costs will be divided among the owners.
c. Owner may deduct the amount of property taxes paid on his income tax return.
d. If other owners fail to make payments, all owners could lose their equities, for a foreclosure action could be taken against the (single) blanket type loan, unless delinquencies were brought current.