Strata Management Licensing Practice Exam · Question
Which term is most commonly used in Ontario to refer to a multi-unit residential property where individuals own their units and jointly own common elements?
Ontario uses the term 'condominium' to describe this type of property ownership, governed by the Condominium Act, 1998.
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Question: Which term is most commonly used in Ontario to refer to a multi-unit residential property where individuals own their units and jointly own common elements?
Answer options:
- Strata ✅ Condominium
- Co-operative
- Freehold Townhouse
Correct answer: Condominium
Explanation: Ontario uses the term 'condominium' to describe this type of property ownership, governed by the Condominium Act, 1998.
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