Final answer:
The statement that real property reports do not apply to condominium properties is false; they do apply but usually in the context of the entire building or development, including common areas.
Step-by-step explanation:
The statement 'Real property reports do not apply to condominium properties' is false. Real property reports, which are detailed surveys that depict the boundaries and improvements of a parcel of land, do apply to condominium properties. However, their scope might differ since condominiums involve shared property. Instead of a report for individual units, a condominium might have a survey for the entire building or development site that includes the common areas. These reports are crucial during the sale of a property as they can impact the ownership rights and responsibilities which are essential in real estate transactions.