condominium

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Condominium

In the United States and most of Canada, a piece of housing property attached to other properties, each individually owned, but with co-ownership of all common areas. This is usually associated with an apartment building in which residents own their apartments, but collectively (acting through a homeowners' association) own things like elevators, electric wiring, the outside of the buildings or the courtyards. In the event of an accident, liability is often apportioned according to where the accident occurred. For example, if a pipe bursts in a condominium and ruins the floors, its owner is responsible. However, if a pipe bursts in a condominium and ruins a neighboring unit's floors, liability rests with the homeowner's association. It is informally called a condo.

condominium

A system of ownership in a multiunit development allowing individual ownership of some areas and common ownership of all other areas.The identifying feature is the legality that common areas (entrance, hallways, elevators, swimming pool, parking, etc.) are owned by all members of the community in common with each other, rather than being owned by a separate corporation or association. Residential condominium projects may be multistory apartment-style residences or may resemble traditional detached housing or garden home communities.

References in periodicals archive ?
Individualized and removed from its unity with the condominium law and its institutions, the Village Community and the Customs of Land, peasant private ownership has become extremely vulnerable to the needs and intentions of the nobility.
Hawaii Revised Statutes [section] 514B provides a limited number of definitions associated with Hawaii condominium law, but does not provide definitions for condominium fee simple or leasehold estates.
He was appointed to the Florida Condominium Study Commission by Florida Governor Bob Martinez in 1990, and worked on the extensive revisions to the condominium laws.
The Condominium Law will define the role of the Owners Association, a representative body comprising unit owners in a development, as well as the developerAEs role in the day-to-day management of shared facilities such as elevators, garden, gym and swimming pool.
Conn, based in Tampa offices, who practices administrative law, land use, environmental, local government, real property, and condominium law.
Once every decade, the Florida courts issue an opinion that profoundly changes the face of condominium law.
Condominium law dictates specific operational requirements including:
Robbins also has extensive experience in condominium law and in representing both landlords and tenants in office, retail and industrial lease matters.
Gary Rosen is an attorney in Great Neck, New York specializing in real estate and condominium law.
Glazer is a solo practitioner in Aventura, concentrating in condominium law, bankruptcy, and personal injury.
The committee members also took the time to educate the bank's representatives about the nuances of condominium law and examined every possible construction and repayment scenario before the fact.
His focus will be on business and general corporate law, mergers and acquisitions, limited liability and partnership law, formation and growth of emerging companies, joint venture formation and cooperative and condominium law.