Property Ownership
What is a condominium in Nevada real estate?
AA type of mobile home park
BA form of ownership where each owner holds title to their individual unit and an undivided interest in common areas✓ Correct
CA government-subsidized housing program
DA multi-family property where one entity owns all units
Explanation
A Nevada condominium is governed by NRS Chapter 116 and the CC&Rs. Each owner holds fee simple title to their individual unit and owns an undivided percentage interest in the common elements. The HOA manages common areas and enforces CC&Rs.
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