Property Ownership
A condominium owner holds:
AFee simple ownership of a unit's airspace plus an undivided interest in the common elements✓ Correct
BOnly a lease on the unit
CJoint tenancy with all other unit owners
DA cooperative share in the building
Explanation
Condominium ownership gives the unit owner fee simple title to the interior airspace of their unit (and sometimes balconies/parking), plus an undivided fractional interest in the common elements (lobbies, elevators, grounds) shared with all other owners.
Related Alabama Property Ownership Questions
- An Alabama property owner who gives a neighbor permission to park in their driveway daily, without any formal agreement, has created a:
- Accretion refers to the gradual addition of land by:
- A deed of trust used as a security instrument differs from a mortgage in that:
- Which of the following is an encumbrance that does NOT affect the physical use of property?
- A fee simple determinable estate automatically reverts to the grantor if:
- An easement by necessity arises when:
- Tenancy in common differs from joint tenancy in that tenancy in common:
- In Alabama, a homeowner who has not paid property taxes for an extended period may have their property sold at a:
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →