condominiumˌkɒn dəˈmɪn i əm
condominium (n)
- plural
- condominiums
English Definitions:
condominium, condo (noun)
one of the dwelling units in a condominium
condominium (noun)
housing consisting of a complex of dwelling units (as an apartment house) in which each unit is individually owned
condominium (Noun)
a building in which each unit is owned by an individual but the grounds, structure etc is owned jointly
condominium (Noun)
a unit or apartment in such a complex
condominium (Noun)
the legal tenure involved
condominium (Noun)
joint sovereignty over a territory
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, exterior areas is executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece. Colloquially, the term is often used to refer to the unit itself in place of the word "apartment". A condominium may be simply defined as an "apartment" that the resident owns as opposed to rents. Condominium is the legal term used in the United States and in most provinces of Canada. In Australia, New Zealand and the Canadian province of British Columbia it is referred to as strata title. In Quebec the term "divided co-property" is used, although the colloquial name remains 'condominium'. In France the equivalent is called copropriété, usually managed by the syndic. In South Africa, this form of ownership is called Sectional Title, with the owners constituting the Body Corporate.
Condominium
A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex itself, as well as each individual unit within. The term "condominium" is mostly used in the USA and Canada, but similar arrangements are used in many other countries under different names. Residential condominiums are frequently constructed as apartment buildings, but there are also rowhouse style condominiums, in which the units open directly to the outside and are not stacked, and on occasion "detached condominiums", which look like single-family homes, but in which the yards (gardens), building exteriors, and streets as well as any recreational facilities (such as a pool, bowling alley, tennis courts, and golf course), are jointly owned and maintained by a community association. Unlike apartments, which are leased by their tenants, condominium units are owned outright. Additionally, the owners of the individual units also collectively own the common areas of the property, such as corridors/hallways, walkways, and laundry rooms, as well as common utilities and amenities, such as the HVAC system and elevators. Many shopping malls are industrial condominiums in which the individual retail and office spaces are owned by the businesses that occupy them, while the common areas of the mall are collectively owned by all the business entities that own the individual spaces. The common areas, amenities, and utilities are managed collectively by the owners through their association, such as a homeowner association or its equivalent. Scholars have traced the earliest known use of the condominium form of tenure to a document from first-century Babylon. The word condominium originated in Latin.
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"condominium." Kamus.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.kamus.net/english/condominium>.
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