Which of the following is NOT a characteristic of condominium ownership?

Prepare for the PSI Property Ownership Exam with flashcards and multiple choice questions. Each question comes with hints and explanations to optimize your study time. Get exam-ready today!

Condominium ownership is distinct in that it combines individual ownership of a specific unit with shared ownership of common areas, facilities, and responsibilities. While owners do possess rights and responsibilities for their individual units, including taxation and the ability to vote on matters concerning the homeowners' association, they do not have complete control over all aspects of property management.

The characteristic of exclusive control over all property aspects stands in contrast to the concept of condominium governance, which necessitates collaborative decision-making among all unit owners regarding the management and maintenance of shared spaces like hallways, gardens, and amenities. Therefore, while condominium owners have significant authority over their personal units, they are also part of a larger community and must adhere to the rules and regulations set forth by the condominium association.

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