In condominium ownership, what type of title does each owner hold?

In condominium ownership, each owner holds a fee simple title. This type of title represents full ownership of the property, allowing the owner to use, control, and transfer their unit as they see fit. In condominiums, owners have exclusive rights to their individual units while also sharing ownership of common areas, such as hallways, gardens, and recreational facilities, with other unit owners.

Fee simple title is distinct in that it is the most comprehensive form of ownership, providing the highest level of control over the property. This allows condominium owners to make improvements to their units and to live in or rent out their properties without needing permission from any overarching authority, within the parameters set by condominium association rules.

The other types of titles mentioned—like leasehold, joint tenancy, and life estate—do not apply to condominiums in the same way. Leasehold title indicates a temporary right to occupy through a lease agreement, joint tenancy involves equal co-ownership with the right of survivorship, and a life estate grants use and possession rights for the duration of an individual's life. In the context of condominiums, fee simple title is the correct answer because it denotes complete ownership of the individual unit and shared interest in the common areas.