condominium

(redirected from condominiums)
Also found in: Dictionary, Thesaurus, 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.
Mentioned in ?
References in periodicals archive ?
Managers of these newly opened condominiums should know what taxes must be paid by condominium corporations from their purchase and continued use.
Revisiting the tax liabilities of condominium corporations
Yu says there still market absorption for condominiums in Davao City.
Philippines : Private firm notes strong demand for condos in Davao City
Chalses Vann has also been advocating with the government to ensure fire safety system like fire sprinkler and fire horse cabinet are installed in each condo unit and floor of the newly constructed condominiums due to the fact that no fire extinguishing machine can't pull off the fire accident on the building higher than 20 floors in Cambodia now.
Tips for New Condominium Developers
For more than two decades, the Concept has been relied upon as a practical and easy-to-use guide for condominium living.
The Condominium Concept, 13th Edition
As an example, suppose the owner of a condominium needs to relocate because of a job, but finds the current condominium market unfavorable.
Unwanted neighbors: keeping condominium transfer rights in your favor
Rather, a discussion of these standards will demonstrate how the LCA can be modified to meet the specific needs of condominiums, using well-established legal doctrines from jurisdictions with extensive condominium ownership.
Unreasonable results from the lack of reasonableness standard in the Louisiana Condominium Act
Control of the Condominium's Board of Managers, veto rights of specific owners and permitted uses of units are among the issues that are more heavily negotiated in these transactions than in traditional residential condominiums where rights and uses are stipulated by the Sponsor in the offering plan.
Seeing the benefits of special purpose condominiums
What happens when a dispute between a condominium board and an owner gets out of hand?
Condo conundrums: are rules and policies as binding on owners as bylaws? Does a board engage in improper conduct when it enforces a rule or policy? The courts recently said no and yes to these questions
To offer safer and more comfortable living conditions, the Clio Shonan-Chigasaki condominium was designed from the master plan stage to include crime prevention measures and incorporate a high-quality security system.
Meiwa Estate Implements Fujitsu Palm Vein Authentication Technology for Condominium Entrance Access Security; First Residential Use of Palm Vein Biometric Security in Metropolitan Tokyo
Indeed, the market for luxury condominiums seems to stronger than ever.
Miami-Dade luxury condominiums are selling faster than ever. (Special Advertising Feature)
Situated on prime riverfront property overlooking the expanding La Verandrye Parkway, the River Walk condominium project in Fort Frances is well underway and is expected to be completed by year's end.
Waterfront to be revitalized: waterfront condo development draws interest from south. (Fort Frances/Rainy River: Special Report)
In 1985, Mehdi and Alexandra Razavi purchased a condominium for $355,000 in South Seas Plantation (SSP) in Florida.
6th Circuit allows rental losses under sec. 280A

Legal browser ?
Full browser ?