Property Ownership
A condominium owner in a NH condominium development owns:
AOnly their individual unit with no ownership interest in common areas
BTheir individual unit plus an undivided interest in the common elements✓ Correct
CA cooperative share representing their unit
DA leasehold interest in both the unit and common areas
Explanation
Under the NH Condominium Act (RSA 356-B), a condominium owner holds fee simple title to their individual unit plus an undivided percentage interest in the common elements (hallways, parking, landscaping, etc.) shared with all other unit owners.
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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.
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.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
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