Question

In a condominium apartment, the interior unit is owned by the __________ and the building exterior, lawn, and common areas are owned by the ___________.

a) Resident, Strata Corporation
b) Landlord, Tenant
c) Homeowner, Municipality
d) Strata Corporation, Resident

Answer 1

The interior unit of a condominium is owned by the Resident, and the building exterior, lawn, and common areas are owned by the Strata Corporation.

Step-by-step explanation:

In the context of condominium ownership, the correct answer is: In a condominium apartment, the interior unit is owned by the Resident, and the building exterior, lawn, and common areas are owned by the Strata Corporation.

Condominiums are a type of housing where the individual living spaces are owned privately, while the common property, such as the external walls, roof, and amenities, are owned collectively by all unit owners through an entity often called a Homeowners Association or Strata Corporation, depending on the jurisdiction.

Residents are responsible for the maintenance and upkeep of their individual units, while the Strata Corporation, which is managed by a board of directors elected from among the unit owners, takes care of the common areas and structures.