A Condominium Involves

question 44

Multiple Choice

A condominium involves:

• A)renting a mobile home.
• B)buying stock in a nonprofit organization.
• C)ownership of an individual housing unit in a building.
• D)government-subsidized housing.
• E)renting a house with the option to buy.

---

Definitions:

Bona Fide Purchaser

A legal term for a person who acquires property in good faith and without notice of any other party's claim to the title of that property.

Automobile

A road vehicle, typically with four wheels, powered by an internal combustion engine or electric motor, used for transportation.

Conditional Sale Agreement

A sales contract in which the buyer gains possession of the item, but its title and right of repossession remain with the seller until all payments are made.

Title

A formal right of ownership of property, which signifies the owner's legal possession and control.