What does Condominium mean?
A condominium, or "condo," is a type of residential property where the owner has the exclusive right to use and occupy a specific unit, but shares ownership of the common areas and amenities with the other unit owners in the building or complex.
Related Terms
Closing Disclosure (CD - formerly HUD-1)
Appraisal Fee
Unrecorded Deed
Warranty
Interest
Alienation Clause
Caravan
Repossession
RESPA
Electric Service Panel
Homeowners' Association
Escrow Company
Title insurance
Americans With Disabilities Act
FHA disclosure
Net Cash Flow
Insulation
Manufactured Housing