Property Ownership
In Arizona, common areas in a condominium project are typically owned as:
ASeparate lots by the HOA
BAn undivided interest by all unit owners as tenants in common✓ Correct
CFee simple by the developer in perpetuity
DLeasehold interest by the HOA
Explanation
Common areas in a condominium are typically owned by all unit owners collectively as tenants in common, with each unit owner holding an undivided fractional interest in the common elements.
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