What is the definition of a condominium

what is the definition of a condominium

Condominium

Sep 21,  · A condominium, more commonly known as a condo, is a property complex that is owned by an individual. Residential highrises are an example of condos. Condominium is an invented Latin word formed by adding the prefix con-‘together’ to the word dominium ‘dominion, ownership’. Its meaning is therefore ‘joint dominion’ or ‘co-ownership’. Condominia (the Latin plural of condominium) originally referred to territories over which two or more sovereign powers shared joint lovemeen.com technique was frequently used to settle.

The word has shifted its meaning considerably since what upload speed do i need to stream entered our language, currently contains many different senses, and in at least one of these senses may signify different things to different people. In modern use family may refer to one of a number of different groups of people or things collectively, such as chemical compounds, related languages, plants and animals, and people who may or may not share ancestry.

Family is often encountered in legal use, but even within the jargon of the law it is not restricted to a single meaning. These example sentences are selected automatically from various online news sources to reflect current usage of the word 'family.

Send us feedback. Middle English familiefrom Si familia household including servants as well as kin of the householderfrom famulus servant. See more words from the same century. What is the definition of a condominium 23 Apr. More Definitions for family. English Language Learners Definition of family Entry 2 of 2. See the full definition for family in the English Language Learners Dictionary.

Note: The interpretation of the word family in a law context depends upon the area how to bring up pay in an interview the law concerned as contract or zoning lawthe purpose of the document as a statute or contract in which it is used, and the facts of the case. Often for zoning purposes, the occupants of a group home are considered a family if the organization is like that of a family or if the home is going to be a permanent rather than a transitional residence for the occupants.

Nglish: Translation of family for Spanish Speakers. Britannica English: Translation of family for Arabic Speakers. What made you want to look up family? Please tell us where you read or heard it including the quote, if possible. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! You've waited days, weeks, months, even years for What's the difference?

Condominiun words of uncertainty. We're intent on clearing it up. We're gonna stop you right there. How to use a word that literally drives some pe The awkward case of 'his or her'. Can you correctly identify these flowers? Which of these things doesn't belong? Test your knowledge - and maybe learn something a Login or Register. Save Word. Definition of family Entry 1 of 2.

Definition of family Entry 2 of 2. Other Words from family Synonyms What what is the definition of a condominium a family? More Example Sentences Learn More about family. Keep scrolling for more. Synonyms for family Synonyms: Noun bloodclanfolkshousekinkindred te, kinfolk or kinfolkskinsfolklinelineagepeopleracestock definitino, tribe Visit the Thesaurus for More. What is a family? Examples of family in a Sentence Noun The disappearance of decent-paying low-skilled jobs over the last 30 years makes it virtually impossible for a young high-school dropout to successfully support a family on a legitimate income.

LubaschNew York Times30 Apr. The show is fun for the whole family. She wants to spend more time with her family. After his father's death he became the head of the family. She's a friend of the family. He spent a quiet evening at home with family. Recent Examples on the Web: Noun My deepest condolences to her familyespecially her husband and children. First Known Use of family Noun 15th century, in the meaning defined at sense 2 Adjectivein the meaning defined at sense 1.

History and Etymology for family Noun and Adjective Middle English familiefrom Latin familia household including servants as well as kin of the householderfrom famulus servant. Learn More about family. Time Traveler for family The first known use of family was in the 15th century See more words from the same century.

From the Editors at Defimition. Dictionary Entries near family famille noire famille rose famille verte family family allowance family altar family Bible See More Nearby Entries.

Phrases Related to family family business family day family friend definitin history family life family pet family resemblance. Style: MLA. English Language Learners Definition of family Entry 1 of 2. Kids Definition of family. Medical Definition of family. Other Words from family family what to look for in a printer for the home. Legal Definition of family.

Comments on definitiob What made you want to look up family? Show Comments Hide Comments. Get Word of the Day daily email! Test Your Vocabulary. Test your knowledge - and maybe learn something along the way. Spell words. Condomknium bears.

Love words? Need even more definitions? We're intent on clearing it up 'Nip it in the butt' or 'Nip it in the bud'? We're gonna stop you right there Literally How to use a word that literally drives some pe Is Singular 'They' a Better Choice? Take the quiz True or False?

Condominium Act

Condominium Act § Definitions. As used in this chapter, unless the context requires a different meaning: "Capital components" means those items, whether or not a part of the common elements, for which the unit owners' association has the obligation for repair, replacement, or restoration and for which the executive board determines funding is necessary. Covenants, Conditions & Restrictions (CC&Rs) are limits and rules placed on a group of homes or condominium complex by a builder, developer, neighborhood association, or homeowners lovemeen.com living in a home or condominium that is restricted by CC&Rs, an owner gives up certain freedoms in order to be part of a shared community. Assignee definition is - a person to whom an assignment is made. How to use assignee in a sentence.

A condominium , often shortened to condo in the United States and in most Canadian provinces is a type of living space often, but not necessarily, similar to an apartment but independently sellable and therefore regarded as real estate. The condominium building structure is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. Condominiums are a type of common-interest development CID.

Similar concepts in other English-speaking countries include strata title in Australia , Malaysia , New Zealand , and the Canadian province of British Columbia ; commonhold in England and Wales ; and sectional title in South Africa. Residential condominiums are frequently constructed as ordinary apartment buildings, but there has been an increase in the number of "detached condominiums", which look like single-family homes but in which the yards gardens , corridors, building exteriors, and streets as well as any recreational facilities like a pool or pools, bowling alley, tennis courts, golf course, etc , are jointly owned and jointly maintained by a community association.

Unlike apartments, which are leased by their tenants , condominium units are owned outright. Many shopping malls are industrial condominiums in which the individual retail and office spaces are owned by the businesses that occupy them while the common areas of the mall are collectively owned by all the business entities that own the individual spaces. The common areas, amenities, and utilities are managed collectively by the owners through their association, such as a homeowner association.

Scholars have traced the earliest known use of the condominium form of tenure to a document from first-century Babylon.

Italy uses condominio , which is simply the modern Italian form of condominium. Spanish-speaking Latin American nations often use the term propiedad horizontal , literally meaning "horizontal property" but abstractly meaning that all owners of the property have equal interest. The word condominio is also used. In Spain, the legal term is comunidad de propietarios [3] [4] and the popular term is comunidad de vecinos.

Condominia the Latin plural of condominium originally referred to territories over which two or more sovereign powers shared joint sovereignty. This technique was frequently used to settle border disputes when multiple claimants could not agree on how to partition the disputed territory. For example, from to , Oregon Country was a condominium over which both the United States and Great Britain shared joint sovereignty until the Oregon Treaty resolved the issue by splitting the territory along the 49th parallel and each country gaining sole sovereignty of one side.

The difference between a complex of residences, such as an apartment building, and a condominium is purely legal. There is no way to differentiate a condominium from any other residential building simply by looking at it or visiting it.

What defines a condominium is the form of ownership. A building developed as a condominium and sold in individual units to different owners could actually be built at another location as for example an apartment building the developers would retain ownership and rent individual units to different tenants.

Where a condominium is in essence an apartment building, as a practical matter, builders tend to build condominiums to higher quality standards than apartment complexes because of the differences between the rental and sale markets. They are typically slightly larger than apartments, and are often constructed in a townhouse style in regions where single-family detached homes are common. Technically, a condominium is a collection of individual home units and common areas along with the land upon which they sit.

Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home. The boundaries of that space are specified by a legal document known as a Declaration, filed on record with the local governing authority. Typically, these boundaries will include the wall surrounding a condo, allowing the homeowner to make some interior modifications without impacting the common area.

Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium's creation. The corporation holds this property in trust on behalf of the homeowners as a group—it may not have ownership itself.

Condominiums have conditions, covenants, and restrictions, and often additional rules that govern how the individual unit owners are to share the space. Some condominium complexes consist of single-family dwellings. There are also "detached condominiums" where homeowners do not maintain the exteriors of the dwellings, yards, etc.

These structures are preferred by some planned neighborhoods and gated communities. A homeowners association HOA , whose members are the unit owners, manages the condominium through a board of directors elected by the membership.

This exists under various names depending on the jurisdiction, such as "unit title", "sectional title", " commonhold ", "strata council", or " tenant-owner's association ", "body corporate", "Owners Corporation", "condominium corporation" or "condominium association". Another variation of this concept is the "time share", although not all time shares are condominiums, and not all time shares involve actual ownership of i.

Condominiums may be found in both civil law and common law legal systems as it is purely a creation of statute. Among other things, the HOA assesses unit owners for the costs of maintaining the common areas, etc. That is, the HOA decides how much each owner should pay and has the legal power to collect that. The description of the condominium units and the common areas and any restrictions on their use is established in a document commonly called a "Master Deed" also known as the "Enabling Declaration", the "Declaration of Conditions", or the "Condominium Document".

Among other things, this document provides for the creation of the HOA. Rules of governance for the association are usually covered under a separate set of bylaws which generally govern the internal affairs of the condominium. Condominium bylaws usually establish the responsibilities of the owners' association; the voting procedures to be used at association meetings ; the qualifications, powers, and duties of the board of directors; the powers and duties of the officers; and the obligations of the owners with regard to assessments, maintenance, and use of the units and common areas.

Finally, a set of rules and regulations providing specific details of restrictions on conduct of unit owners and residents are established by the HOA. Generally, these sets of rules and regulations are made available to residents and or as a matter of public record via a condominium or homeowners association website or through public files, depending on the state and its applicable laws.

Condominiums are usually owned in fee simple title , but can be owned in ways that other real estate can be owned, such as title held in trust. In some jurisdictions, such as Ontario , Canada or Hawaii USA, there are "leasehold condominiums" where the development is built on leased land. In general, condominium unit owners can rent their home to tenants , similar to renting out other real estate, although leasing rights may be subject to conditions or restrictions set forth in the declaration such as a rental cap for the total number of units in a community that can be leased at one time or otherwise as permitted by local law.

Condominium ownership is also used, albeit less frequently, for non-residential land uses: offices, hotel rooms, retail shops, private airports, marinas, group housing facilities retirement homes or dormitories , bare land in British Columbia and storage.

The legal structure is the same, and many of the benefits are similar; for instance, a nonprofit corporation may face a lower tax liability in an office condominium than in an office rented from a taxable, for-profit company. However, the frequent turnover of commercial land uses in particular can make the inflexibility of condominium arrangements problematic.

There are many forms of real estate ownership that are similar to condominiums but not identical. Classic privately owned detached houses on privately owned lots may be part of a community that has a homeowner's association.

Such an association may administer a common park area, for example, or an access road, or architectural standards for the houses. In a townhouse complex, multiple physical houses are combined into a single architectural building. Each unit owner owns an identified plot of land and the building affixed to it, but that building is physically part of a larger building that spans lots.

There is a continuous roof and foundation and a single wall divides adjacent townhouses. Legally, this is very similar to detached houses, but because of the intertwining of interests in the single architectural building, a homeowner's association is required. It would be impractical, for example to replace the roof of just one townhouse.

But unlike the condominium, the townhouse complex's HOA owns none of the building or the land under it. It is essentially under contract to the townhouse owners to maintain the parts of the building that are hard to divide. Even the walls between townhouses are usually outside the purview of the HOA, being jointly owned and maintained by the owners of the townhouses on either side. Like the condominium, the townhouse complex often has common areas for roads, parking, clubhouses, and such.

A rowhouse is like a townhouse except that the houses are not physically connected. They are independent structures that simply have no space between them. Technically, they are detached.

A building with multiple residential units may simply be owned in common by multiple people, with each having specific rights to a particular unit and undivided interest in the rest.

This is like a condominium, but there is no HOA with legal powers. It is much harder to govern, as the individual unit owners often have to agree unanimously or court intervention is required.

California statutes recognize three kinds of "common interest developments": condominium, townhouse, and community apartment, with the latter being the owned-in-common concept described above. In Australia, condominiums are known as " strata title schemes " [7] or "community title schemes". One in eight Canadian households lived in condominium dwellings, colloquially known as "condos", mostly located in a few census metropolitan areas according to Statistics Canada [9] Condominiums exist in most parts of Canada though more common in larger cities.

They are regulated under provincial or territorial legislation and specific legal details vary from jurisdiction to jurisdiction. In most parts of Canada, they are referred to as Condominiums, except in British Columbia where they are referred to as a strata and in Quebec where they are referred to as syndicates of co-ownership.

With regular condominiums, the unit owner usually owns the internal unit space and a share of the corporation; the corporation owns the exterior of the building land and common area; in the case of a freehold condominium the owner owns the land and building and the corporation owns common shared roadways and amenities.

Each owner-tenant directly owns his own apartment; the rest of the building and the ground on which it stands is owned jointly by the apartment owners who execute their joint ownership through an owner's association. The expenses of maintaining the joint property is shared pro rata among the owners. The entire property is legally owned by a non-profit corporation in which the tenants own shares; each share carries the right and duty to lease an apartment from the cooperative.

Shares can be bought and sold, but often the cooperative's rules strictly limit the price for which they may change hand. In contrast, condominiums are traded on a free market. Because the official share prices are often lower than the market value and sellers often retain freedom to select whom to sell to, under-the-table payments are common. Current public policy favors condominiums over housing cooperatives, and recent legislation have aimed at making the latter more condominium-like.

For example, since , cooperative shares may be used to secure bank loans. However, Danish mortgage banks still may not mortgage individual housing cooperative apartments.

In England and Wales , the equivalent of condominium is commonhold , a form of ownership introduced in September As of 3 June , there were 12 commonhold residential developments comprising 97 units in England and one commonhold residential development, comprising 30 units, in Wales.

In English law it is not possible to enforce a positive covenant on successive owners of freehold land, other than to maintain a boundary fence, without creating an elaborate trust. A positive covenant is, broadly, one which involves the expenditure of money to perform. This did not create a significant problem until the s, when "flats" where ownership is divided horizontally first began to appear on the market as more affordable particularly for first-time buyers.

Until then flats had been confined to short-term unsaleable tenancies, with varying degrees of statutory rent protection and security of tenure. It was soon learned that freehold flats were an unsatisfactory form of ownership because it was not possible to impose essential maintenance requirements. As such, flats became virtually unmarketable because they were an unacceptable form of security to lenders. Thus solicitors, the principal property lawyers in England and Wales in those days, began to use leases instead, where such limitations did not apply.

Progress was haphazard and piecemeal, but over time things became more standard. Improvements became universal as institutional lenders refused to advance money on the security of flats unless certain basic provisions were included. This benefited owners whether or not they borrowed money since purchase was invariably conducted through a solicitor or licensed conveyancer trained to reject leases failing to meet the necessary standards.

Despite these standards, the actual form of leasehold systems is variable. Highly favoured are arrangements where the leases are granted out of a freehold owned by a corporation, itself owned by individual leaseholders. This provides an opportunity for them to participate in the proper management of the block. Again, quality of management is very variable.

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