Becky just bought a condominium. Which statement regarding her ownership is true?

Study for the Arizona Real Estate Exam. Boost your knowledge with flashcards and multiple choice questions with explanations. Be exam-ready with our comprehensive review!

In the context of condominium ownership, the statement regarding property taxes being levied against Becky directly is true. When an individual purchases a condominium, they own a specific unit within the declared property, and property taxes are assessed directly on that unit. This means Becky is responsible for paying taxes on her portion of the condominium, just like any single-family homeowner is responsible for their own property taxes.

The other options do not accurately reflect the nature of condominium ownership. A proprietary lease is not applicable in a standard condominium setting; it is more characteristic of cooperative housing where owners do not own their units outright but rather a share of the corporation that owns the property. The assertion that she may not sell the property without approval of the association is misleading; while many associations have right of first refusal clauses, they typically do not require approval for an owner to sell their unit. Lastly, the requirement to take title as a joint tenant with other owners does not apply, as condominium owners can hold title individually rather than being compelled to share ownership with others.

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