Property Ownership
In Massachusetts, a condominium unit owner's monthly 'common area fee' (condo fee) is used for:
APaying the mortgage on the individual unit
BMaintaining, repairing, and insuring the common areas and elements of the condominium✓ Correct
CPaying the unit owner's property taxes
DFunding individual unit improvements
Explanation
Condominium common area fees (condo fees or HOA fees) fund the maintenance, repair, and insurance of common elements and areas of the condominium complex, as well as building management and reserves.
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