Ownership in a planned unit development consists of what?

Ownership in a planned unit development (PUD) typically involves ownership of a parcel of land, the structures on it, and shared common areas. In a PUD, each homeowner owns their individual lot and the buildings on them, while also having an interest in common areas that are shared with other residents, such as parks, swimming pools, and pathways. This type of ownership structure promotes community living and often includes shared responsibilities for maintenance and governance through a homeowners association (HOA).

The other options focus on more restrictive or different types of ownership. For example, a single-family home alone does not account for the shared community aspects integral to a PUD; condo units imply ownership of a unit with shared walls and communal property but do not typically involve private land ownership as in a PUD; and retail space with a parking lot does not match the residential focus of a PUD structure. Thus, the best fit for defining ownership in a planned unit development is ownership that encompasses both the individual's property and a stake in communal amenities.