Humber/Ontario Real Estate Course 3 Exam Practice

How is ownership structured in a common element condominium for a golf course?

1. By purchasing a share certificate

2. As a leasehold interest

3. With an interest registered on the title to their home

4. Issuance of a deed as proof

5. Through a co-op ownership model

6. Via an equity partnership

The correct answer is: With an interest registered on the title to their home

In a common element condominium, ownership is structured such that individuals have a title to their specific unit and share in the common elements of the property, such as amenities or recreational areas like a golf course. This shared ownership translates to a registered interest on the title of each homeowner’s property concerning the common elements. When it comes to golf courses integrated into a common element condominium, residents typically own their units outright while also having an interest in the shared facilities. This interest is usually documented on the property title, reflecting the homeowner's stake in the common areas surrounding the golf course. The other options, while potentially relevant in different types of cooperative or joint ownership models, do not accurately describe the structure of ownership in a common element condominium scenario. For instance, shares or leasehold interests do not apply in a traditional condominium setup, and a co-op ownership model involves a different legal framework where owners sell shares rather than direct ownership of real estate. Similarly, equity partnerships or deed issuance would not apply to the standard condominium ownership structure, where individual title registration is fundamental.