Legal Definitions - condominium

A condominium (often shortened to "condo") is a type of property ownership where an individual holds exclusive title to a specific private unit within a larger multi-unit property. While the owner has full ownership of their individual unit (such as an apartment or townhouse), they also share an undivided ownership interest with other unit owners in the property's common areas and facilities. These shared areas might include hallways, lobbies, recreational facilities like gyms or pools, exterior grounds, and structural elements of the building.

Condominium ownership comes with mandatory membership in a governing association, typically called a Homeowners Association (HOA) or Condominium Association. This association is responsible for managing, maintaining, and repairing the common areas. Unit owners pay regular fees (often monthly or quarterly) to the association to cover these costs, as well as shared utilities, insurance for common areas, and reserves for future major repairs. The association also establishes and enforces rules, known as restrictive covenants, that govern how owners can use and maintain their units and the common areas, ensuring a consistent living environment for all residents.

• Example 1: Urban High-Rise Apartment

  Imagine a modern 20-story building in a bustling city center. Sarah purchases a unit on the 15th floor. She holds the deed to her specific apartment, meaning she owns the interior space, including the walls, floors, and fixtures within her unit. However, the building's lobby, elevators, rooftop terrace, fitness center, and the exterior facade are all common areas. Sarah is automatically a member of the building's Condominium Association and pays monthly dues. These dues cover the maintenance of the elevators, cleaning of the lobby, landscaping around the building, and the cost of the building's master insurance policy. The association also has rules, for instance, about pet sizes or quiet hours, which Sarah must follow.

  This illustrates a condominium because Sarah individually owns her apartment unit, but shares ownership and responsibility for the building's shared amenities and structure, managed by an association to which she pays fees and adheres to rules.

• Example 2: Suburban Townhouse Community

  Consider a development of attached townhouses in a quiet suburban neighborhood. Mark buys one of these townhouses. He owns the specific structure of his home, including its interior and a small private patio directly behind it. However, the private roads within the development, the community clubhouse, a shared swimming pool, and the general landscaping of the common green spaces are all jointly owned by all residents. Mark pays a quarterly fee to the Homeowners Association (HOA) for the community. These fees fund services like snow removal on the private roads, maintenance of the pool and clubhouse, and upkeep of the shared lawns. The HOA also sets rules, such as guidelines for exterior paint colors or fence styles, to maintain the community's aesthetic consistency.

  This demonstrates a condominium because Mark owns his specific townhouse, but shares an interest in and contributes to the maintenance of the community's shared infrastructure and recreational facilities, all governed by an association with specific rules.