condominium

/kondaminiyam/ System of separate ownership of individual units in multiple-unit building. A single real property parcel with all the unit owners having a right in common to use the common elements with separate ownership confined to the individual units which are serially designated. Kaufman and Broad Homes of Long Island, Inc. v. Albertson, 73 Misc.2d 84, 341 N.Y.S.2d 321, 322.
An estate in real property consisting of an undivided interest in a portion of a parcel of real property together with a separate fee simple interest in another portion of the same parcel, in essence, condominium ownership is a merger of two estates in land into one: the fee simple ownership of apartment or unit in a condominium project and tenancy in common with other co-owners in the common elements. Butcher v. Owens, Tex., 647 S.W.2d 948, 949.
The condominium concept was not rooted in English common law and most condominiums in the United States are formed in accordance with specific state enabling statutes.
As defined by Uniform Condominium Act (No. 1-103(7)), is: "Real estate, portions of which are designated for separate ownership and the remainder of which is designated for common ownership solely by the owners of those portions. Real estate is not a condominium unless the undivided interests in the common element are vested in the unit owners."
Compare cooperative

Black's law dictionary. . 1990.

Look at other dictionaries:

  • CONDOMINIUM — Régime d’un territoire soumis à la souveraineté de deux ou de plusieurs États qui exercent en commun les compétences étatiques normalement dévolues à un seul. Prenant généralement naissance dans la rivalité de deux ou de plusieurs États à propos… …   Encyclopédie Universelle

  • condominium — con·do·min·i·um /ˌkän də mi nē əm/ n pl ums [New Latin, joint dominion, from Latin com with, together + dominium rule, ownership] 1: ownership of real property that is characterized by separate ownership of portions of the property (as units in… …   Law dictionary

  • condominium — con‧do‧min‧i‧um [ˌkɒndəˈmɪniəm ǁ ˌkɑːn ] also con‧do [ˈkɒndəʊ ǁ ˈkɑːndoʊ] noun [countable] PROPERTY an apartment in a building with several apartments, each of which is owned by the people living in it, or the apartment building itself * * *… …   Financial and business terms

  • condominium — n. 1. one of the units in a condominium[2]. Syn: condo. [WordNet 1.5] 2. a complex of dwelling units (as an apartment house) in which each unit is individually owned (as contrasted with rented). [WordNet 1.5] …   The Collaborative International Dictionary of English

  • Condominium —   [lateinisch] das, s/...ni |en, Kondominium, die auf einer einvernehmlichen Grundlage beruhende gemeinsame Ausübung der Gebietshoheit über ein Territorium durch zwei oder mehrere Staaten; z. B. das preußisch österreichische Condominium über… …   Universal-Lexikon

  • Condominium 1 — Condominium One Condominium 1 is a private home in Sea Ranch, California. It sits on a cliff overlooking the Pacific Ocean. The home was the first major work of American architect Charles Moore.[ …   Wikipedia

  • condominium — ► NOUN (pl. condominiums) 1) the joint control of a state s affairs by other states. 2) N. Amer. a building or complex containing a number of individually owned flats or houses. 3) N. Amer. a flat or house in a condominium. ORIGIN Latin, from con …   English terms dictionary

  • Condominĭum — (lat.). Eigenthum was Mehreren[350] an einer Sache so zusteht, daß Jeder einen ideellen Antheil hat; Condomĭnus, Miteigenthümer; Condomināt, die Gesammtherrschaft mehrerer Gebieter in einem Landestheile, einer Stadt etc., s.… …   Pierer's Universal-Lexikon

  • Condominĭum — (lat.), Miteigentum, das Eigentum, das mehreren ungeteilt an einer Sache zusteht. So besteht zwischen Belgien und Preußen ungeteilte Mitherrschaft an Neutral Moresnet (vgl. Schröder, Aachen 1902). Von 1889–99 bestand zwischen Deutschland, England …   Meyers Großes Konversations-Lexikon

  • Condominium — Condominĭum (lat.), Miteigentum mehrerer an einer Sache. Kondomināt, Gesamtherrschaft mehrerer Gebieter über ein Land oder einen Landesteil …   Kleines Konversations-Lexikon

  • Condominium — Condominium, Miteigenthum, bald im Sinne von Communio, bald als Gesammteigenthum von Markgenossen, Mitherrschaft; condominial, was sich auf das C. bezieht …   Herders Conversations-Lexikon

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