Condominium

A condominium is a form of property ownership in which individual units are separately owned while certain common areas and facilities are collectively owned or managed. Common areas can include corridors, elevators, entrances, recreational facilities, parking areas, and other shared spaces. The legal structure of condominium ownership varies between jurisdictions. Purchasers should understand their rights in the private unit, their interest in common property, maintenance obligations, and applicable community rules.

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