Which of the following is true about condominiums?
A) Each person owns a portion of the land on which a condominium is located.
B) Maintenance fees of common areas are shared.
C) They have more privacy than single family homes.
D) All of the above.

Question

Quizplus · Accepted Answer

Condominiums are typically composed of individual units that are privately owned, but the common areas such as hallways, elevators, and pool areas are shared by all residents. The maintenance fees for these common areas are usually shared among the residents. Option A is incorrect because individual owners only own their specific unit, not a portion of the land. Option C is also incorrect because condominiums typically have less privacy compared to single-family homes due to shared facilities and proximity to other units.

Which of the Following Is True About Condominiums