Which best describes the ownership structure of a condominium?

Correct Answer

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

In Idaho, a condominium owner holds fee simple title to their individual unit and also owns an undivided fractional interest in the common areas (such as hallways, lobbies, and recreational facilities) shared with other unit owners. This is governed by the Idaho Condominium Property Act. This differs from a cooperative, where residents own shares in a corporation.