Property Ownership and Associations Flashcards

Flashcards about property ownership and associations

Kristin has purchased a condominium apartment in Happy Gardens. Which of the following statements about Kristin's ownership rights is ?

She is entitled to the exclusive use of the lawn in front of her unit.

A cooperative owner is assured of the exclusive use of an individual unit for the life of the corporation through the use of a:

proprietary lease

A form of ownership that involves one party holding title for the benefit of another who retains full control over the property is a:

land trust

The Directors of a condominium owners association are elected by:

the owners