Property Ownership
A condominium owner owns:
AThe land beneath their unit
BTheir individual unit in fee simple and a shared interest in the common elements✓ Correct
COnly a leasehold interest in the unit and building
DAn undivided interest in the entire building only
Explanation
In a condominium, each owner holds fee simple title to their individual unit and an undivided percentage ownership interest in the common elements (lobbies, hallways, pools, etc.) shared with all owners.
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