Property Ownership
What is a 'planned unit development' (PUD)?
AA zoning category for industrial use
BA development where owners hold fee simple title to their lot and home, plus membership in a homeowners association that owns common areas✓ Correct
CA government housing project for low-income residents
DA mixed-use commercial development
Explanation
In a PUD, each owner has fee simple title to their individual lot and dwelling, plus a membership in the HOA, which owns and maintains the common areas (parks, pools, etc.). This is distinct from condominiums, where common areas are owned in undivided interest.
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