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.
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What responsibility does the condominium corporation have when an owner fails on the common property?
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
For more information about Chula Vista Condominiums, call 1-866-332-6636 and ask for condominium sales.
Chula Vista Unveils Plans for $100 Million Condo Development
Therefore, because their personal use exceeded 10% of the days the unit was rented to third parties, the Razavis' condominium was a residence under Sec.
6th Circuit allows rental losses under sec. 280A
Related International has first set its sights on Puerto Vallarta to develop ICON Vallarta, a luxury condominium situated on five acres of oceanfront with exclusive beach access, and located just minutes from downtown.
$1 Billion in Real Estate Planned in Mexico by Related International, Division of The Related Group
Even for those of us who live, eat, breath and practice real estate, it would be simplistic to think that Cuomo's entire focus as attorney general will be on making condominium construction, development, sponsorship and sales a smooth and cost-efficient process.
Is Cuomo the man to help ease development bottleneck?
Poliakoff has served on the State of Florida Condominium Study Commission and State of Florida Advisory Council on Condominiums as well as the Bar's Legislative SubCommittee on Condominium and Cooperative Law.
The phantom of the condominium
Purchasing the condominium was Jim Hubbard, of Crestview Properties LLC, of Birmingham, Ala.
Beach Condominium Sells in J.P. King Auction for $1,017,500
The Federation of New York Housing Cooperatives and Condominiums is a 53-year old membership organization dedicated to the education of cooperative and condominium board members, shareholders and unit owners in the five boroughs, Long Island, Westchester and New York State.
Gregory Carlson elected president of NY Association of Realty Managers
Take all the forces coming together today, and that translates into renewed emphasis on condominiums by first-time buyers,'' said Jim Link, executive vice president of the Realtors group.
AUGUST KEEPS PACE; VALLEY'S HOUSE, CONDO SALES HOT AS LAST YEAR'S
What the MTA is offering are ill-defined rights to air space instead of the condominiums they are obligated to provide.
BOSTON PROPERTIES COLISEUM PROJECT MOTION FOR SUMMARY JUDGMENT
Only the price of standard condominiums increased over the one-year period.
CMHC predicts the buyer's market will continue
There are 13 loans remaining in the transaction, all secured by multifamily rental properties that are undergoing conversion to individual condominiums.
Fitch Ratings Upgrades One Class of Lehman 2006 - CCL - C2

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