What type of residential property describes a unit that shares common walls with adjacent units and includes ownership of both the unit and the land beneath it?
Correct Answer
A) Freehold townhouse
A freehold townhouse involves ownership of both the dwelling unit and the land beneath it, distinguishing it from a condominium townhouse where you own the unit but share ownership of common elements. The freehold structure provides full ownership rights to the property.
Why This Is the Correct Answer
A freehold townhouse is the correct answer because it describes a residential unit that shares common walls with adjacent units (townhouse characteristic) while providing ownership of both the dwelling unit and the land beneath it (freehold ownership). This distinguishes it from condominium ownership where land is held in common. Freehold townhouses give owners complete property rights including the land, making them fee simple estates.
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