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condominium owners association

   Also found in: Acronyms 0.03 sec.
condominium owners association

An association that automatically includes as members all persons who own condominium units in a defined project.Unlike subdivisions,in which the homeowners association often owns the common lands, the condominium owners association does not own the common areas—the unit owners own them in common with each other.The association does enforce the provisions of the covenants, conditions, and restrictions and manages the financial, legal,and maintenance business of the community.



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