A Maryland real estate licensee is explaining condominium ownership to a client under the Maryland Condominium Act. All of the following statements about condominium ownership in Maryland are accurate EXCEPT:
Correct Answer
C) The condominium association holds fee simple title to all units on behalf of the owners
Under the Maryland Condominium Act, Md. Code Ann., Real Prop. §§ 11-101 et seq., the condominium association does not hold fee simple title to individual units. Each unit owner holds their own fee simple title to their unit. The association manages the common elements and enforces the governing documents, but it does not own the units. Title to each unit rests with the individual owner, not the association.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
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