Asked by
KAYLA ESCALANTE
on Nov 10, 2024
Verified
Which of the following is false with regard to condominiums and cooperatives?
A) The owner of a condominium has a fee simple interest in his unit within the condominium structure.
B) The owner of a condominium owns a share in the common areas.
C) The owner of a condominium can be forced to pay a fee levied by the condominium association governing the condominium.
D) The owner of a condominium can mortgage his interest.
E) An owner of a cooperative, like the owner of a condominium, has a real property interest in the suite.
Condominium
A residential complex where individual units are owned by individuals and common areas are jointly owned by all the unit owners.
Cooperative
An independent legal entity composed of members holding shares in it; a method of acquiring residential accommodation.
Fee Simple Interest
The most complete form of ownership in real estate, providing the owner with unlimited control subject to legal restrictions.
- Identify the differentiation between real property and personal assets.
- Understand the principles governing leases, tenancies, and the implied rights and obligations of landlords and tenants.
Verified Answer
DG
Learning Objectives
- Identify the differentiation between real property and personal assets.
- Understand the principles governing leases, tenancies, and the implied rights and obligations of landlords and tenants.