Property Ownership
Oklahoma's Condominium Ownership Act governs the creation and operation of condominiums. Under this Act, the 'common elements' are owned by:
AThe condominium developer in perpetuity
BThe homeowners' association (HOA) exclusively
CAll unit owners collectively as tenants in common✓ Correct
DThe management company
Explanation
Under the Oklahoma Condominium Ownership Act, common elements (lobbies, hallways, pools, structural elements) are owned collectively by all unit owners as tenants in common, in proportion to their ownership interest.
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