condominium

(redirected from Detached condominiums)
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 ?
The detached condominiums would be on substantially smaller lots than city standards previously allowed.
She enjoyed the quiet neighborhood, wide open spaces and towering Santa Monica Mountains around her home until last month, when the Planning Commission approved a 208-unit single-family detached condominium project in the Dos Vientos Ranch development.
The commissioners said they were driven by a simple question: Why should the city finance a project taking two years to build seven, four-bedroom detached condominiums at $145,000 each when similar homes can be bought in the same neighborhood for about $130,000.