Property Ownership
A condominium owner in Iowa owns:
AShares in the corporation that owns all units
BTheir individual unit in fee simple plus an undivided interest in common areas✓ Correct
COnly the air space within their unit, with no ownership of structural elements
DA proprietary lease from the condominium association
Explanation
A condominium owner in Iowa holds fee simple title to their individual unit plus an undivided interest (as a tenant in common) in the common elements. The condominium association manages the common elements according to the Declaration and Bylaws.
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