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 ?
Ultimately, only you can decide what are really pros and cons between a condo and a house.
For example, the Burn Block micro-condos are rented because the City of Vancouver by-law dictates that condo units can be no smaller than 398 sq.
Units in the Ventana Condos would range in size from 1,231 square feet of space to 4,031 square feet of space, according to a project narrative filed with the city.
'If condos in these areas are built from 15 to 25 floors and priced from $800 to $1,200 per square metre, they will be successful,' he said.
Because of the multiperson ownership, condos place strict restrictions on what can and can't be done to the property.
InsurEye said the acquisition of TheDirt.co will allow InsurEye to expand its reviews' scope and offer further information to Canadians about the condos they want to buy, sell or rent.
Best Affordable Condo Development: Trees Residences (SMDC)
My requirement is that the condo should be thoroughly cleaned.
Once he reached 10 years, (when Veritas was previously independent) a number of key Condo Protego team members made up the majority of those still standing.
"Condo building will bounce back as the whole housing market gets back to more normal levels," he says.
Craig King, the company president and chief executive officer, said, 'The condos were very well received, which was evidenced by strong bidding.
The number is the smallest since 1992 when condo suppliers offered 26,248 units.