Fee simple ownership shared walls, and a fractional interest in common areas are all characteristics of townhouse ownership. Hence, Option C is correct.
When a person is having the legal right or can be said they have the possession of anything whether it can be of an individual, group, corporation, or government thing.
Ownership is of two things, material and immaterial things. The townhouse ownership is categorized under the material thing because here the ownership is of land on which the house is situated. It includes the front as well as the backyard area of the residence.
Thus, Option C is correct.
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The complete question is attached in text form:
Fee simple ownership shared walls, and a fractional interest in common areas are all characteristics of
a. single-family home ownership.
b. cooperative ownership.
c. town-house ownership.
d. time-share ownership.
