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 ?
Bantz, "The International Legal Status of Condominia," Florida Journal of International Law 12 (1998): 102.
And like Richard's nuptial proposal, these various ideas for internationalization, autonomous "boroughs," joint Jewish-Arab condominia, and the like, have continuously crashed upon the shoals of irreconcilable religious and national differences.
was responsible for a vast and somewhat ramshackle colonial empire, with various sorts of colonies, protectorates, protected states, and condominia. The U.K.