Property OwnershipIntermediateDelaware Exam
A condominium owner in Delaware has title to:
ATheir unit and a percentage interest in the common elementsCorrect
BTheir unit only; the developer retains the common areas
CThe land beneath their unit
DOnly an air space interest with no real property ownership
Why Their unit and a percentage interest in the common elements Is Correct
Answer A: Their unit and a percentage interest in the common elements
A condominium owner holds title to their individual unit plus an undivided percentage interest in the common elements (lobbies, hallways, parking areas, etc.) of the condominium development.
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
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