Property Ownership
A Missouri condominium owner owns:
AThe entire building in fee simple
BA specific unit in fee simple plus an undivided interest in common elements✓ Correct
COnly a leasehold interest in their unit
DThe land under the building
Explanation
Under the Missouri Condominium Act, a condo owner holds fee simple title to their individual unit plus an undivided percentage interest in common elements such as hallways, roof, and grounds.
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Key Terms to Know
Fee Simple
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
EasementA non-possessory right to use another person's land for a specific purpose.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
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