Which type of property ownership involves an undivided interest in property along with the right to use common areas?

Condominium ownership is characterized by individual ownership of a specific unit within a larger complex, while all unit owners hold an undivided interest in the common areas of the property, such as hallways, roofs, and recreational facilities. This means that each unit owner has the right to use these common areas, which are maintained collectively.

In a condominium, the governing documents outline the rights and responsibilities of unit owners, including their use of common areas and their share of maintenance costs. This arrangement distinguishes condominium ownership from other forms of property ownership, such as fee simple ownership, where an individual owns the property outright without shared interests in common areas.

In contrast, options like cooperative ownership involve ownership of shares in a corporation that owns the property, and an easement pertains to a right to use another's land for a specific purpose, rather than a direct ownership interest or shared common space usage. Therefore, the defining characteristic of condominium ownership—an undivided interest in property along with the right to use common areas—makes it the correct answer for this question.