In a condominium, who owns the common areas?

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Multiple Choice

In a condominium, who owns the common areas?

Explanation:
Common areas in a condominium are owned by the Homeowners Association collectively. Each unit owner owns their individual unit and, together with all other owners, has an undivided interest in the common elements. The association holds title to those common areas and is responsible for their maintenance and management, funded by assessments charged to all unit owners. The city and lenders do not own the common areas. Individual owners don’t own the shared spaces outright; they own a share of the common elements through the association.

Common areas in a condominium are owned by the Homeowners Association collectively. Each unit owner owns their individual unit and, together with all other owners, has an undivided interest in the common elements. The association holds title to those common areas and is responsible for their maintenance and management, funded by assessments charged to all unit owners. The city and lenders do not own the common areas. Individual owners don’t own the shared spaces outright; they own a share of the common elements through the association.

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