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 ?
If the urgent repairs would last more than 40 days, the rent should be reduced in proportion to the time and the part of the condominium unit of which you were deprived.
10) Ensuring that this relationship exists will protect unit owners from tyrannical condominium associations, and condominium associations from self-serving unit owners.
Relying on its prior opinion in Welleby Condominium Association One, Inc.
Therefore, because their personal use exceeded 10% of the days the unit was rented to third parties, the Razavis' condominium was a residence under Sec.
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.
The organization holds seminars and educational meetings, monitors court decisions and local, state and federal legislation and publishes a newsletter reporting on issues relevant to the cooperative and condominium community.
There are approximately 6,000 condominium corporations in Ontario, with some 500,000 units.
The condominium price rose $1,000 to $116,000 in the last year but fell $4,000 from the September median.
The intricate nature of this luxury condominium building required the detailed attention of Alexandra Construction and the size and might of an international company like Bovis Lend Lease," says Brian O'Neill, Founder and Chairman of O'Neill Properties Group, and owner of The Carnegie Abbey Club.
Locked in a slump from 1993 to 1997, the area's condominium market has finally enlisted in the real estate recovery.
A custom-built two-story beachfront condominium in Orange Beach sold for $1,017,500 Saturday, Dec.