Property Ownership
Under Ohio law, which of the following is TRUE about the Ohio Condominium Property Act?
AThe developer may retain control of the association indefinitely
BUnit owners must receive an annual financial report from the association✓ Correct
CCommon elements can be sold separately from individual units
DThe association cannot enforce deed restrictions against unit owners
Explanation
Under the Ohio Condominium Property Act, condominium associations are required to provide unit owners with an annual financial report, promoting transparency in association finances.
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