Property Ownership
In New Mexico, a 'condominium' owner holds:
AA leasehold interest only
BFee simple ownership of their individual unit plus an undivided interest in the common elements✓ Correct
CA cooperative share in the corporation
DA life estate in their unit
Explanation
A condo owner holds fee simple title to their individual unit (the airspace) plus an undivided percentage interest in the common elements (land, hallways, amenities). The common elements are owned jointly by all unit owners.
Related New Mexico Property Ownership Questions
- In New Mexico, 'naked legal title' in a deed of trust refers to:
- In New Mexico, when a married couple takes title as 'community property with right of survivorship,' at the death of one spouse:
- In New Mexico, 'dedication' of land refers to:
- In New Mexico, which form of ownership gives each co-owner a right of survivorship?
- A life estate grants the life tenant the right to:
- Which type of deed is most commonly issued at a tax foreclosure sale in New Mexico?
- In New Mexico, a prescriptive easement is acquired through use of another's land that is:
- A New Mexico property survey reveals that the neighbor's fence is 3 feet inside the property line. This is an example of:
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →