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 ?
In promulgating this rule, the Florida court noted the unique living situation inherent to condominiums.
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.
Related International has first set its sights on Puerto Vallarta to develop ICON Vallarta, a luxury condominium situated on five acres of oceanfront with exclusive beach access, and located just minutes from downtown.
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.
Poliakoff has served on the State of Florida Condominium Study Commission and State of Florida Advisory Council on Condominiums as well as the Bar's Legislative SubCommittee on Condominium and Cooperative Law.
Purchasing the condominium was Jim Hubbard, of Crestview Properties LLC, of Birmingham, Ala.
The Federation of New York Housing Cooperatives and Condominiums is a 53-year old membership organization dedicated to the education of cooperative and condominium board members, shareholders and unit owners in the five boroughs, Long Island, Westchester and New York State.
While on average accounting for about one-third of all home sales, the condominiums market now is showing the same trends common for single-family homes.
Only the price of standard condominiums increased over the one-year period.
There are 13 loans remaining in the transaction, all secured by multifamily rental properties that are undergoing conversion to individual condominiums.
Toll Brothers City Living and Halstead Property, LLC unveiled the on-site sales center and model apartment for North8 Condominiums in Williamsburg, Brooklyn at 199 Bedford Avenue.