Condominium ownership in Montana typically includes which of the following?

Correct Answer

B) Fee simple ownership of the individual unit plus an undivided interest in the common areas

In Montana, condominium ownership is governed by the Montana Unit Ownership Act. A condominium owner holds fee simple title to their individual unit — the airspace within the walls — and also holds an undivided fractional interest in the common areas and facilities shared by all unit owners, such as hallways, parking lots, and recreational amenities. A homeowners association (HOA) manages and maintains the common areas, funded by monthly assessments paid by unit owners. This distinguishes condominiums from cooperatives, where residents own shares in a corporation rather than direct real property.