Define Condominium In Real Estate In Cook
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A inium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners.
A inium, or condo, is an individually owned unit in a complex or building of units. A condo owner owns the space inside their condo and shares ownership interest in the community property, such as the floor, stairwells, and exterior areas.
Synonyms: condo. abode, domicile, dwelling, dwelling house, habitation, home. housing that someone is living in.
The measure used to determine a condo owner's share of inium contributions (fees) and voting rights. Typically, unit factor is proportional to the size of the owner's inium unit.
A inium is type of living residence within a multi-unit complex where each unit is individually owned. iniums are commonly called condos, for short. The origin of the term 'inium' comes from Latin meaning "joint rule."
Sample 1. inium hotel means a hotel in which hotel units are designated for separate ownership and the remainder of which is designated for common ownership solely by the owners of the hotel units subject to a inium property regime.” Sample 1.
àterre (French pronunciation: pje. t‿a tɛʁ, plural: piedsàterre; French for "foot on the ground") is a small living unit, e.g., apartment or inium, often located in a large city and not used as an individual's primary residence.
