condominium owners association


Also found in: Acronyms.

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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The case arose from the reduction of the real property tax delinquency liability of the Chevy Chase Condominium Owners Association, Inc.
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