What does a bare land condo plan comprise?

What does a bare land condo plan comprise?

• A. Units defined by structures
• B. Parcels of land
• C. Commercial properties
• D. Residential buildings

Answer: (B)

A bare land condo plan comprises parcels of land that are individually owned, with common areas shared among the owners. This type of condo ownership allows individuals to own a specific piece of land, often designated for the construction of a residential or commercial building, while also having the rights to shared amenities or facilities within the development. This setup contrasts with traditional condos, where ownership typically includes both the unit and a fraction of the common property, such as hallways or recreational areas. In a bare land condo scenario, owners have more flexibility regarding what can be built on their parcels, making it an appealing option for those looking to build their own homes or investment properties while still being part of a larger community structure.

A bare land condo plan comprises parcels of land that are individually owned, with common areas shared among the owners. This type of condo ownership allows individuals to own a specific piece of land, often designated for the construction of a residential or commercial building, while also having the rights to shared amenities or facilities within the development.

This setup contrasts with traditional condos, where ownership typically includes both the unit and a fraction of the common property, such as hallways or recreational areas. In a bare land condo scenario, owners have more flexibility regarding what can be built on their parcels, making it an appealing option for those looking to build their own homes or investment properties while still being part of a larger community structure.