condo

A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned. Use of land access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with the individual ownership. These rights are controlled by the association of owners that jointly represent ownership of the whole piece. “Condominium” is a legal term used in the United States and in most provinces of Canada. In Australia, New Zealand, and the Canadian province of British Columbia, it is referred to as “strata title”. In Quebec, the term “divided co-property” () is used, although the colloquial name remains “condominium”. In France, the equivalent is called (co-ownership), usually managed by the syndic. In Italy the equivalent term is “Condominio” (not surprisingly, as “Condominium” comes from Latin). In Hispanic regions, the traditional term propiedad horizontal is retained since horizon in this case signifies “defined”. In South Africa, this form of ownership is called “sectional title”.