Humber/Ontario Real Estate Course 4 Exam Practice

A condominium without any units but with common facilities like a swimming pool is known as:

1. Residential freehold condominium

2. Shared facilities condominium

3. Common property condominium

4. Common elements condominium

5. Commercial condominium

6. Fractional ownership condominium

The correct answer is: Common elements condominium

A condominium without any individual units but with shared amenities, such as a swimming pool, is referred to as a common elements condominium. This type of condominium is characterized by the absence of private living spaces or defined residential units; instead, it consists solely of common areas that are accessible to all owners or members. The shared facilities serve a communal purpose, allowing owners to enjoy the benefits of amenities without the maintenance responsibilities that would typically come with individual units. This terminology is distinct within real estate definitions in Ontario, where "common elements" are specifically designated as parts of a condominium that all owners share collectively. These can include not only recreational facilities but also essential services like hallways, lobbies, and landscaping. In contrast, other potential answers refer to structures or arrangements that imply the presence of individual units (like residential, commercial, or fractional ownership) or use terms that do not accurately categorize a condominium lacking private dwelling areas. The clarifications of these distinctions ensure that those involved in real estate transactions understand the nature and ownership structure of different condominiums.