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 ?
See also Sergio Nasarre Aznar, "New Trends in Condominium Law and Access to Housing in Post-Crisis Spain" in Lehavi, Private Communities, supra note 2 at 165.
Ownership in a condominium or other common interest development (CID) comes with the rights and mandatory obligations that are specified in the condominium project documents and in state condominium laws.
Robinson will be a member of Anderson Kill's Cooperative and Condominium Law Group, which serves as general counsel to the boards of directors and managers of numerous cooperatives, condominiums, and homeowners associations (HOA) throughout the New York metropolitan area.
Hitt said he recently called an attorney who is a member of Lawyers Advising Lawyers to ask about condominium law for an estate he is representing with a condo as an asset.
com)-- The Florida based Leshin Law Firm, a distinguished practice well-known for its commercial litigation, bankruptcy and foreclosure work, recently unveiled a new condominium law service.
TRD: Talel, who is chair of the city bar association's cooperative and condominium law committee, said that if an owner can't raise enough money to pay the maintenance, a board can try other legal remedies before starting default proceedings.
Perhaps the most significant recent event to occur in the real estate industry is a change made, by popular request, to Spain's Condominium Law, which corrected imperfections that existed for more than 30 years.
Pry's practice focuses on real estate transactional law and finance, including conveyancing, development, leasing, commercial lending and finance transactions, condominium law and association law.
were added to the firm's Cooperative and Condominium Law practice group.
The Condominium Concept has been used in Florida law schools to teach condominium law and in offices to assist community association law practitioners.
The Dubai Condominium Law will set proper guidelines on the management of common areas and facilities u collectively referred to as aestrataAE u in multi-user developments.
A bill that would make several amendments to Florida's condominium law was unanimously approved in both the House and Senate.