Humber/Ontario Real Estate Course 4 Exam Practice

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What is the best way to describe a condominium that consists only of common elements and no units?

Residential freehold condominium
Proportionate share condominium
Common property condominium
Common elements condominium
Leasehold condominium
Commercial condominium

The correct answer is: Common elements condominium

A condominium that consists only of common elements and no individual units is aptly described as a common elements condominium. This type of condominium structure allows for shared ownership of the property’s common areas, such as amenities, hallways, and other shared facilities, without any separate units for individual residents. The term “common elements” highlights that the property is collectively owned by the members of the condominium corporation, and the absence of units signifies that there are not individually owned residential spaces. This differentiates it from other types of condominiums that include individual residential or commercial units, making "common elements condominium" the most accurate descriptor for this scenario.