A “condominium” is a type of residential property where individual units are owned privately, while common areas and facilities are shared among all owners. The term often refers to a building or complex consisting of multiple such units, with owners holding title to their specific unit and sharing ownership of communal spaces, such as hallways, gardens, and recreational facilities. Condominiums typically involve a homeowners’ association (HOA) that manages the common areas and enforces rules governing the property.
