Which is the least restricted or most complete form of ownership, where an owner has absolute title, which can be transfered by sale or bequest?
A. Fee simple
B. Condominium
C. Cooperative
D. Leasehold
E. Sale-and-leaseback
AnswerA. Fee simple. Condos include an interest in common building elements; Co-op is ownership of shares in a cooperatively owned building; Leasehold is a temporary right to land or property; Sale-leaseback sells the property asset to another entity and leases it back for a long term.
ARE 4.0 exam prep: PPP
A. Fee simple
B. Condominium
C. Cooperative
D. Leasehold
E. Sale-and-leaseback
AnswerA. Fee simple. Condos include an interest in common building elements; Co-op is ownership of shares in a cooperatively owned building; Leasehold is a temporary right to land or property; Sale-leaseback sells the property asset to another entity and leases it back for a long term.
ARE 4.0 exam prep: PPP
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