In a condominium, how are the units owned?

In a condominium, how are the units owned?

• A. As a whole by one owner
• B. Separately by individual owners
• C. By the government
• D. In partnership with a developer

Answer: (B)

In a condominium, the units are owned separately by individual owners. Each condominium owner holds title to their specific unit and has an undivided interest in the common areas of the property, such as hallways, pools, and gardens, which are collectively owned by all unit owners. This arrangement allows for individual ownership and the freedom to sell or lease their unit while sharing the responsibility for maintaining the common areas. The structure of ownership in condominiums is designed to provide personal ownership rights alongside shared communal responsibilities, ensuring that residents have both privacy within their units and access to shared facilities. This distinction from other forms of real estate ownership, such as apartments—which are typically rented—makes it clear how condominiums operate as a hybrid of individual and collective ownership.

In a condominium, the units are owned separately by individual owners. Each condominium owner holds title to their specific unit and has an undivided interest in the common areas of the property, such as hallways, pools, and gardens, which are collectively owned by all unit owners. This arrangement allows for individual ownership and the freedom to sell or lease their unit while sharing the responsibility for maintaining the common areas.

The structure of ownership in condominiums is designed to provide personal ownership rights alongside shared communal responsibilities, ensuring that residents have both privacy within their units and access to shared facilities. This distinction from other forms of real estate ownership, such as apartments—which are typically rented—makes it clear how condominiums operate as a hybrid of individual and collective ownership.