Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums questions with correct answers

Title CORRECT ANSWER Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. A legal entity that represents the collective interests of its property owners. CORRECT ANSWER What is the definition of a 'Condominium Corporation'? The condominium board CORRECT ANSWER Who establishes the rules and bylaws in a condominium? To secure the assets of the corporation and ensure residents live harmoniously. CORRECT ANSWER What is the aim of condo bylaws and rules? - Freehold - Standard - Freehold - Common Element - Freehold - Vacant Land - Freehold - Phased - Leasehold CORRECT ANSWER Name the 5 types of condominium ownership.