Strata Management Licensing Practice Exam · Question
Which term is commonly used in Ontario to describe the collective ownership and management of shared residential property, often referred to as 'strata' in other provinces?
In Ontario, the term 'Condominium' is used, as defined by the Condominium Act, 1998, to refer to the collective form of ownership, which is equivalent to 'strat
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Question: Which term is commonly used in Ontario to describe the collective ownership and management of shared residential property, often referred to as 'strata' in other provinces?
Answer options: ✅ Condominium
- Community Association
- Homeowners' Association
- Unit Development
Correct answer: Condominium
Explanation: In Ontario, the term 'Condominium' is used, as defined by the Condominium Act, 1998, to refer to the collective form of ownership, which is equivalent to 'strata' in British Columbia.
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