CONDOMINIUM

Condominium

A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned, while use of and access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece.

The above text is a snippet from Wikipedia: Condominium
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condominium

Noun

  1. Joint sovereignty over a territory.
  2. A region or territory under such rule.
  3. A building in which each unit is owned by an individual but the grounds, structure etc is owned jointly.
  4. A unit or apartment in such a complex.
  5. The legal tenure involved.


The above text is a snippet from Wiktionary: condominium
and as such is available under the Creative Commons Attribution/Share-Alike License.

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