Property Ownership
Colorado's Condominium Ownership Act and CCIOA provide that the common elements of a condominium are owned by:
AThe HOA as a legal entity
BAll unit owners as undivided interests in proportion to their ownership✓ Correct
CThe developer until the project is fully sold
DThe county where the condominium is located
Explanation
In a Colorado condominium, common elements are owned by all unit owners as tenants in common, with each unit owner holding an undivided interest proportional to their ownership percentage as defined in the condominium declaration.
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