condominium

(redirected from Condominum)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.

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)

condominium

joint ownership. The term has come to describe a flat held in this way, especially in the USA.
References in periodicals archive ?
Tarpon seek locations with much higher elevation than snook, often locations that end up under homes, condominums, roads and parking lots.
That ranges from single family homes to condominums, condo conversions to vertical--as in medium-to high-rise apartment buildings--all priced to sell.
The same goes for the Wampanoag settlement, where ancestors of the original Native Americans swap their two-bath, three-bed condominums in nearby towns to burn out canoes from tree trunks, grow cereal crops and catch fish.