Humber/Ontario Real Estate Course 1 Exam Practice

What is the ownership status of common elements in a condominium?

1. Own the common elements as joint tenants.

2. Are not required to pay common expenses, if they opt out of using those common elements.

3. Have an ownership interest in the common elements, as tenants in common.

4. Own a proportionate interest in the common elements, as set out in the description.

5. Own the common elements as tenants at will.

6. Share ownership of common elements in a leasehold manner.

The correct answer is: Have an ownership interest in the common elements, as tenants in common.

In a condominium, owners have an ownership interest in the common elements as tenants in common. This means that each owner has a share in the common elements along with the other unit owners. This arrangement allows for the equitable distribution of responsibilities and rights related to the common elements among all unit owners. Options A, B, D, E, and F are incorrect: - Option A suggests owning the common elements as joint tenants, which is not the case in a condominium setup. - Option B implying not being required to pay common expenses if opting out of using common elements goes against the fundamental concept of shared responsibility in a condominium. - Option D is close, mentioning owning a proportionate interest, but the specific term used in condominium ownership is tenants in common. - Option E, owning common elements as tenants at will, is not a recognized form of ownership in a condominium context. - Option F, describing a leasehold manner of sharing ownership, does not reflect the standard ownership structure of common elements in condominiums.