New Jersey Real Estate Exam Practice Question
The common area of a condominium development is owned by
Correct Answer: D
Rationale: In a condominium development, common areas are owned collectively by all unit owners as tenants in common, meaning each owner has an undivided interest in the shared spaces.
Option A is incorrect because the Board of Directors manages the common areas but does not own them.
Option B is misleading; original owners may have rights, but ownership extends to all current unit owners, not just the original ones.
Option C is inaccurate, as paying taxes or maintenance does not confer ownership; ownership is defined by the title held by all unit owners.
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