223k views
4 votes
A person has fee simple ownership of a unit in a multi-story building. She is also required to pay property taxes on that unit. Which type of common interest ownership could the owner have?

1 Answer

3 votes

Answer: 3. condo ownership

Step-by-step explanation:

A condominium is similar to an apartment/ flat meaning that it is an individual unit in a multi-story building that has other apartments in it as well. A condo unlike an apartment however, can be sold to individual owners.

The buyers of these condos will have a fee simple ownership interest in the condo meaning that they have full ownership and so will pay taxes on it.

User Bnahin
by
7.9k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.