Property Ownership
In Florida, a 'condominium' is defined as:
AA rental apartment complex
BA form of ownership where the unit owner holds fee simple title to their individual unit and an undivided share of the common elements✓ Correct
CA cooperative housing arrangement
DA time-share property
Explanation
Under Florida's Condominium Act (Chapter 718 F.S.), a condominium is a form of real property ownership where each unit owner holds fee simple title to their unit plus an undivided interest in common elements (lobbies, hallways, amenities) with other unit owners.
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