A condominium is a combination of co-ownership and individual ownership. Those who own an apartment or a condominium are co-owners of the land and of the halls, lobby, and other common areas, but each apartment or condominium unit in the building is individually owned. In some States, the owners of the various units in the condominium have equal voice in the management and share an equal part of the expenses. In other States, control and liability for expenses are shared by a unit owner in the same ratio as the value of the unit bears to the value of the entire condominium project. The bigger condominium owners would have more say-so than the smaller condominium owners.
This Agreement to Lease a Condominium Unit is similar to a lease of an apartment.
Condominium With Apartment Block Meaning In Collin
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Collin
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A condo, or inium, is one unit that is part of a larger building or community of other condos. When you own a condo, you own the space in your own unit. Common spaces — enentrances, lobbies, hallways, rooftop decks and other shared areas — are the property of the condo association.
Definition : Rental condo Term that refers to an apartment located in an immovable that is not held in divided co-ownership. This expression is used to describe an apartment that is rented out and that is located in a building with the same characteristics (e.g. a swimming pool, a community hall, a gymnasium, etc.)
Apartment blocks are defined as an appropriate form for an area defined as very urban, ranch houses for other areas, for instance.
: a large building that has several or many apartments.
An apartment building in which each apartment is owned separately by the people living in it, but also containing shared areas. (informal condo) an apartment in a inium.
An apartment complex is a group of several apartment buildings, usually under the same management. A inium is an apartment that is owned by an individual or family. (It can also be owned by a corporation.)