Which statement is true about condominiums? All ownership interest is shared between the individual unit owners. Ownership is ownership in real property. Owners can set their own rules for use of the common areas. Ownership is in personal property.

The answer is: Ownership is ownership in real property.

Explanation:

The owner of an apartment in a condominium has real property ownership of his or her apartment. It's like owning a house, every owner receives a deed for their apartment. The ownership is also fee simple, which means the owner can freely sell or transfer his property rights.