Property Ownership
Which of the following is TRUE about condominium ownership in North Dakota?
ACondo owners do not own real property
BEach unit owner has fee simple ownership of their unit and an undivided interest in common elements✓ Correct
CThe HOA owns all individual units
DCondominiums are only found in urban areas
Explanation
In a condominium, each unit owner holds fee simple title to their individual unit and an undivided fractional interest in the common elements (hallways, grounds, roof, structural elements) shared with other owners.
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