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Condominium

Condominium

An estate in real property wherein there is an undivided interest in common in a

portion of real property coupled with a separate interest in space called a unit, the boundaries of

which are described on a recorded final map, parcel map or condominium plan.


A type of real estate property that refers to a unit within a multiunit building. This means that the owner of a condo has individual ownership of their unit, but shares ownership and common spaces with other condo owners in the same building. Condominiums can come in various sizes and configurations, from small studio apartments to large penthouses with multiple bedrooms and bathrooms. In addition to the unit itself, condo owners are responsible for paying monthly maintenance fees to cover shared expenses such as cleaning, landscaping, and repairs. Many people choose to buy a condo because it offers benefits such as shared amenities like swimming pools, gyms, and community rooms, without the hassle of maintaining a single-family home. Overall, owning a condominium can be a preferred choice for those who want to experience the comfort and convenience of living in a multiunit building.

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