Condominium
/ˌkɒndəˈmɪniəm/
Definitions
- (n.) A form of real property ownership where individuals own units independently within a building or complex, while common areas are owned collectively.
She purchased a condominium in the downtown high-rise with shared amenities.
- (n.) An arrangement in which multiple sovereign powers jointly govern a territory or property.
The island was a condominium under the joint administration of two countries.
Forms
- condominiums
Related terms
Commentary
In legal drafting, distinguish between condominium ownership and cooperative arrangements to avoid confusion regarding ownership rights and governance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.