Sandra purchases a condominium unit in a Nashville high-rise. She receives a deed to her individual unit. Which statement accurately describes what Sandra owns under Tennessee condominium law?
Correct Answer
A) Sandra owns her unit in fee simple and holds an undivided interest in the common elements as a tenant in common with other unit owners
Under the Tennessee Horizontal Property Act (Tenn. Code Ann. § 66-27-101 et seq.), a condominium unit owner receives fee simple ownership of their individual unit AND an undivided fractional interest in the common elements (lobbies, hallways, parking areas, etc.) as a tenant in common with all other unit owners. This dual ownership structure — exclusive unit ownership plus shared common element ownership — is the defining legal characteristic of condominium ownership in Tennessee.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
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.
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