Property Ownership
In Florida, a developer creates a condominium and records a Declaration of Condominium. Unit owners own:
AA share of the corporation that owns the entire building
BTheir individual unit in fee simple plus an undivided interest in the common elements✓ Correct
COnly the airspace inside their unit with no interest in common areas
DA leasehold interest in their unit renewable every 99 years
Explanation
Florida condominium unit owners own their unit in fee simple plus an undivided fractional interest in the common elements (hallways, pool, roof, etc.) as tenants in common with all other unit owners. This is governed by Chapter 718 F.S.
Related Florida Property Ownership Questions
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