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Florida Real Estate Exam

Category - Florida

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If you hold an undivided interest in the common areas, and a separate interest in a specific unit of an industrial, commercial or residential building, you would own a:

Stock Cooperative
Condominium
Community Apartment Project
Land Project

Explanation

Answer B - This is the definition of a condominium. The key wording is “separate interest in the unit”. A Community Apartment Project allows for use or occupation only of the unit.

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