When you receive title to an individual unit and joint ownership of any common areas and facilities,you have purchased
A)a single-family home.
B)a cooperative.
C)a condominium.
D)a manufactured home.
E)any one of these.

Question

Quizplus · Accepted Answer

When you purchase a condominium, you receive individual ownership of a specific unit along with shared ownership of common areas and facilities such as hallways, parking lots, and recreation centers. Therefore, the individual unit and joint ownership of common areas and facilities make it a condominium.

When You Receive Title to an Individual Unit and Joint