Browse:  A B C D E F G H I J K L M N O P Q R S T U V W Y Z
     
Enter a Legal Term

Search the Definitions

condominium

n. title to a unit of real property which, in reality, is the airspace which an apartment, office or store occupies. An increasingly common form of property title in a multi-unit project, condominiums actually date back to ancient Rome, hence the Latin name. The owner of the condominium also owns a common tenancy with owners of other units in the common area, which includes all the driveways, parking, elevators, outside hallways, recreation and landscaped areas, which are managed by a homeowners' or tenant's association. If the condominium unit is destroyed by fire or other disaster, the owner has the right to rebuild in his/her airspace. Most states have adopted statutes to cover special issues involving development, construction, management and taxation of condominium projects.

See also: common area 

From the Law.com Newswire



The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications

FEATURED FIRMS

The Law Firm Of Jonathan C. Reiter
350 5th Ave
New York, NY 10118
212-736-0979
Ronaldson & Kuchler
205 W Upper Wacker Dr #1615
Chicago, IL 60606
312- 425-2600
O'Malley & Langan PC
201 Franklin Ave
Scranton, PA 18503
570-344-2667
omalleylangan.com
Coplan & Crane
70 W Madison St, Suite 1400
Chicago, IL 60602
800-394-6002

Presented By Big Voodoo