A unit in a multiple- unit development that may be owned in fee simple is usually referred to as
A) a condominium.
B) life estates.
C) a tenancy in common.
D) real estate development.
E) joint tenancy.

Question

Quizplus · Accepted Answer

Condominiums are a form of multiple-unit development where each unit can be owned in fee simple by an individual owner. Life estates, tenancy in common, joint tenancy, and real estate development may involve multiple owners, but do not necessarily involve fee simple ownership of individual units.

A Unit in a Multiple- Unit Development That May Be