What type of property ownership includes sharing amenities while owning individual units?

Study for the Virginia State Real Estate Salesperson Exam. Practice with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam with comprehensive tools!

The correct answer is condominium, which is characterized by individual ownership of specific units within a larger property, alongside shared ownership of common areas and amenities. In a condominium, each owner holds title to their own unit, while also having an undivided interest in the communal spaces, such as hallways, gardens, pools, and recreational facilities.

This structure allows for a unique combination of private living and shared community resources, which is the hallmark of condominium ownership. In contrast, a single-family home is owned outright without shared amenities, and while a townhouse may have some similar features, typically they are not governed by a condominium association in the same way. The term "Aguada" is unrelated to common types of property ownership in real estate, making it an irrelevant choice in this context.

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