condominium

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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 ?
For earlier antecedents of the horizontal subdivision of buildings, see Van Der Merwe, European Condominium Law, supra note 6 at 9-24; Lehavi, Private Communities, supra note 2; Rebecca Leshinsky & Clare M Mouat, "Towards Better Recognising 'Community' in Multi-Owned Property Law and Living" (2015) 8:4 Intl J Housing Markets & Analysis 484.
The particular freedom of peasant, far from being opposed to the public authority of the community, is founded directly on condominium law that gives its meaning and sense.
99); the condominium law was passed in 1965 and not in 1966 (p.
I had asked a question on one of the Facebook pages I subscribe to about how international renters/owners think about Turkish condominium law rules?
Understanding the dynamics of condominium law and the Louisiana Condominium Act requires an understanding of basic terms used throughout the LCA and this comment:
Florida condominium law "defines a developer as any person or entity that sells or leases condominium units in the ordinary course of business.
There are ways to minimize and avoid these liabilities, but the lender must engage in planning in advance of the foreclosure with counsel familiar with condominium law applicable to the project and be willing to trade post-fore-closure flexibility for increased insulation from liability.
In recent years, though, the understanding and management of condominiums has become more sophisticated and condominium law has matured.
(183) The legislature should instead codify the Conversion Act and incorporate it as a separate chapter or within chapter 183A, the Massachusetts condominium law. (184)
Dubai has already issued the region's first strata management law - the Dubai Condominium Law No.
New strata law "boosts fm business, leads to better buildings" Facilities management newcomer capitalises on new legislation; FM Expo spotlights UAE FM market worth US$704 billion in next 25 years The UAE's facilities management market, estimated to be worth US$704 billion over the next 25 years, has been given a fresh boost by the recently expanded Strata or condominium Law, and will result in higher quality, better managed buildings, a new name in the FM business says.
He will continue to focus his practice in areas of real property, land use, development, and condominium law.