condominium


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia.

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 ?
The Condominium Concept offers the reader a practical analysis of the requirements of Florida's Condominium Act and the rules of the Division of Florida Condominiums, Timeshares, and Mobile Homes that govern condominium living.
To satisfy the new state requirement, condominium association officers and directors may now take the state-approved online course, "Condominium Operations: A Primer for Directors and Officers," developed by e-learning professionals at The Human Equation, a State of Florida-approved education provider of condominium training.
Rules and policies approved by the condominium board or owners at an annual general meeting are not bylaws and cannot be enforced like bylaws.
In addition, 45 Park Avenue features 16 self-park condominium garage spaces available for purchase- a very unique offering for a luxury development in Manhattan.
Within a half-hour of deciding to sell their condominium, she and her husband learned they were selected to be on the show.
A contactless palm vein authentication device is to be installed at the front entrance of the Condominium as part of the auto-lock system.
MIAMI -- The Related Group, the largest builder of luxury condominiums in the United States, announced today it will invest more than $1 billion in Mexico real estate over the next two years.
Even for those of us who live, eat, breath and practice real estate, it would be simplistic to think that Cuomo's entire focus as attorney general will be on making condominium construction, development, sponsorship and sales a smooth and cost-efficient process.
Our condominium owners will live in luxury, enjoying a host of amenities, including state-of-the art, indoor and outdoor water parks, an athletic club, meeting facilities, diverse dining options, access to championship golf and spa amenities.
The median price of a condominium is $173,000 and the median price of a single family home is $365,000.