Which instrument provides a unit owner with fee simple title to a unit and a share of the common elements?

• A. Timeshare ownership
• B. Joint tenancy
• C. Commercial lease
• D. Condominium ownership

Answer: (D)

Condominium ownership provides a unit owner with fee simple title to their individual unit while giving them an undivided, shared interest in the common elements of the project. Each unit is owned in fee simple, described separately, and the common areas (lobby, corridors, amenities) are owned by all unit owners together as tenants in common, managed through a homeowners association. This structure is specifically designed for multi-unit buildings, separating private ownership of the unit from shared ownership of the common spaces.

Timeshare ownership typically grants occupancy rights for limited periods rather than fee simple ownership. Joint tenancy involves co-ownership of property with a right of survivorship, not the typical setup for individual units with shared common elements. A commercial lease is a leasehold interest, not ownership of a unit or shared elements.