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Condominium - Wikipedia A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners [citation needed] These individual units are surrounded by common areas that are jointly owned and managed by the owners of the units The term can
Condominium | Apartment, Ownership Maintenance | Britannica Condominium, in modern property law, the individual ownership of one dwelling unit within a multidwelling building, with an undivided ownership interest in the land and other components of the building shared in common with other owners of dwelling units in the building The condominium as a type
What is a condominium? - Homes. com In a condominium setup, an individual owns a specific unit within a larger property Ownership usually stops at the interior walls of the unit Residents share the common areas — the pool, the laundry room, the fitness center, the mailroom — and pay a fee (usually monthly) to maintain them and the development's exterior and landscaping
CONDOMINIUM Definition Meaning - Merriam-Webster The meaning of CONDOMINIUM is individual ownership of a unit in a multiunit structure (such as an apartment building) or on land owned in common (such as a town house complex); also : a unit so owned How to use condominium in a sentence