What defines ownership in a condominium?

Ownership in a condominium is characterized by the ownership of a specific unit within a building while sharing common areas with other owners. This arrangement allows individuals to possess their own living space but not the land on which the building stands. In a condominium structure, the land and the building itself are typically owned collectively by all unit owners or by a governing body representing them. Therefore, the correct answer reflects the unique nature of condominium ownership, emphasizing that individual owners hold title to their private units rather than the underlying land.