Property Ownership
In Idaho, what is a 'condominium' and what does a unit owner actually own?
AA rented apartment in a multi-unit building
BA form of ownership where the owner holds fee simple title to the interior air space of their unit plus an undivided percentage interest in the common elements✓ Correct
CA cooperative apartment where shareholders own stock
DA leasehold ownership of a unit in a multi-story building
Explanation
In an Idaho condominium (governed by Idaho Code §55-1501), each owner holds fee simple title to their individual unit (typically the air space within the walls) plus an undivided percentage interest in the common elements (land, building structure, hallways, amenities). The Idaho Condominium Property Act governs condo creation, governance, and owner rights.
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