Humber/Ontario Real Estate Course 2 Exam Practice

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With a common element condominium golf course next to a residential area, what ownership does each property owner have?

  1. Share certificates reflecting their proportionate interest

  2. Leasehold interest in the common element

  3. Common interest registered on the title of their home

  4. A unit in the common element condominium

  5. A special use permit for the golf course

  6. Time-shared interest in the golf course

The correct answer is: Common interest registered on the title of their home

In a scenario where a common element condominium golf course is located next to a residential area, each property owner would typically have common interest registered on the title of their home. This means that all owners within the condominium have a shared interest in the common elements of the property, such as the golf course in this case. This shared interest is legally documented and registered on each owner's property title, ensuring that each owner has the right to use and enjoy the common elements collectively. Options A, B, D, E, and F are incorrect in this context: - Option A, share certificates reflecting their proportionate interest, typically applies to cooperative housing structures rather than common element condominiums. - Option B, leasehold interest in the common element, suggests that the owners do not own the common elements outright, which is not the case in a common element condominium. - Option D, a unit in the common element condominium, implies individual units within the condominium, rather than the shared common elements like the golf course. - Option E, a special use permit for the golf course, does not typically apply to common element condominium arrangements where ownership of common elements is shared among all unit owners. - Option F, time-shared interest in the golf course, is more common in vacation properties where multiple parties have the right to use a property for a specific time period, rather than in a common element condominium setup.

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