condominium

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condominium

Politics
1. joint rule or sovereignty
2. a country ruled by two or more foreign powers

Condominium

An apartment house, office building or other multiple-unit complex; the units are individually owned, and there is joint ownership of common elements such as hallways, elevators, and all mechanical systems.

Condominium

 

according to states’ law, a joint ownership, that is, joint sovereignty over a territory by two or more states. Historically, the condominium was established to eliminate conflicts between states laying claim to one and the same territory. For instance, according to an act of the Congress of Vienna of 1814–15 and of a special treaty in 1816, a condominium was established over Moresnet, since Prussia and Belgium could not agree on the frontier of this borderland between them. Andorra and several islands in the Bidassoa River are condominiums of France and Spain. A condominium may also be established over expanses of water (for example, the condominium over the Gulf of Fonseca and the Gulf of San Juan).

A condominium should be distinguished from a coimperium —a joint rule over an alien territory (for example, the joint rule of Great Britain, France, and Spain over Tangier in the 20th century).

condominium

A form of real estate ownership of a multifamily residential dwelling. Each occupant has 100% ownership of his own apartment and partial ownership of common elements such as hallways, elevators, plumbing, etc. Also see cooperative.
References in periodicals archive ?
Pet Restrictions, Power Hungry Board Members, Working with inexperienced agents, the challenge of financing condos in an unfinished communities and eleven more.
In the face of shrinking inventory, condo buyers were eager to act and ready to pay high prices.
The condo piece of multifamily starts bulged to more than 40 percent at the end of the 1970s and early 1980s, plateaued at about the historical average of 22.
Regionally, condo price declines were the most pronounced in the West--with a 6.
Top outer borough condos: Staten Island condos level off
For the years between 2000 and 2004, the Browns' condo qualifies as their principal residence.
In recent years, condo association insurance has become more expensive and many condo associations have begun to purchase lower limits of insurance or higher deductibles.
Companies are likely to continue to unload their landholdings in the metropolitan area, so we expect new condo offerings in 2005 to remain at high levels'' with the condo builders expected to buy the released land, an institute analyst said.
This is exactly what made a condominium appealing to 29-year-old Travis and 28 year old Adrcon Fenderson, newlyweds who purchased a condo in Inglewood, California, a little over a year ago.
That 22-story complex--two mauve and aqua towers joined by an atrium--features 208 condos on the uppermost floors.
However, with three major condo projects opening next year, 1992 may provide a good idea of what is to come.