Real Estate Council of Alberta Fundamentals Practice Exam

Which type of condominium plan defines units with structure?

1. Conventional plans

2. Bare land condo plans

3. Blended condo plans

4. Mixed-use plans

The correct answer is: Conventional plans

The correct choice is conventional plans. This type of condominium plan specifically outlines each unit in a condominium development that is defined by the structure of the building. In conventional plans, individual units are created through specific measurements and specifications that describe the physical spaces that owner occupants will have, which can include things such as walls, floors, and ceilings. Conventional plans typically encompass a multi-unit building where residential or commercial spaces exist, and ownership is designated for the spaces defined within this structure. This contrasts with other types of plans like bare land condo plans, which denote units based on the land they are situated on rather than the physical structures themselves. Understanding this distinction is vital in real estate, as it clarifies ownership rights, responsibilities, and the nature of the property being conveyed. In conventional plans, owners not only have rights to their individual unit but also share common areas, which are managed collectively by a condo association. This organizational structure ensures that all residents and owners are aware of their responsibilities toward shared facilities and maintenance.