Examlex
Which of the following statements is correct?
Unit Owner
The legal owner of an individual unit within a multi-unit property, such as a condominium or cooperative building.
Registry System
A system for recording and tracking the ownership and transactions of assets, such as real estate or vehicles.
Fee Simple
The most extensive ownership interest in land that one can possess under law, which includes the right to use, lease, or sell the property at will.
Good Chain of Title
A clear sequence of ownership documents reflecting an unbroken transfer of property rights from the original owner to the current owner.
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