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condominium
(redirected from Condominium association)

   Also found in: Dictionary/thesaurus, Medical, Financial, Encyclopedia, Wikipedia 0.01 sec.

condominium n. title to a unit of real property which, in reality, is the air space which an apartment, office or store occupies. An increasingly common form of property title in a multi-unit project, condominiums actually date back to ancient Rome, hence the Latin name. The owner of the condominium also owns a common tenancy with owners of other units in the common area, which includes all the driveways, parking, elevators, outside hallways, recreation and landscaped areas, which are managed by a homeowners' or tenants association. If the condominium unit is destroyed by fire or other disaster, the owner has the right to rebuild in his/her airspace. Most states have adopted statutes to cover special issues involving development, construction, management and taxation of condominium projects. (See: common area)



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In Miami Beach, the State of Florida requires every condominium association to provide and maintain an extensive insurance coverage for the owners, units and the building.
These advantages may include acquisition of certain developer-retained rights under the condominium documents and the ability to control the condominium association by electing or designating a majority of the directors of the condominium association board of directors.
TOP CONDOMINIUM ASSOCIATION PROPERTY MANAGEMENT WITH AFFLUENT, HIGH-END CUSTOMER BASE IN SOUTHWEST FLORIDA.
 
 
 
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