condominium


condominium
/kon'deuh min"ee euhm/, n.
1. an apartment house, office building, or other multiple-unit complex, the units of which are individually owned, each owner receiving a recordable deed to the individual unit purchased, including the right to sell, mortgage, etc., that unit and sharing in joint ownership of any common grounds, passageways, etc.
2. a unit in such a building.
3. Internat. Law.
a. joint sovereignty over a territory by several states.
b. the territory itself.
4. joint or concurrent dominion.
[1705-15; < NL. See CON-, DOMINIUM]

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In modern property law, individual ownership of one dwelling unit within a multidwelling building.

Unit owners have undivided ownership interest in the land and those portions of the building shared in common. This type of ownership has been present in Europe since the end of the Middle Ages; in the U.S. it dates to the latter half of the 19th century and has been popular in crowded urban areas. An alternative to the condominium is the cooperative, in which residents own a share of a corporation, with each share entitling the owner to reside in a particular unit in the building.

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      in modern property law, the individual ownership of one dwelling unit within a multidwelling building, with an undivided ownership interest in the land and other components of the building shared in common with other owners of dwelling units in the building. The condominium as a type of ownership has been present in various forms in Europe since the end of the Middle Ages. In the United States condominium ownership appeared in the latter half of the 19th century and has been popular in crowded urban areas. An alternative to the condominium in the United States is the cooperative, in which residents of a building own shares in a corporation, with each share entitling the owner to reside in a particular unit in the building.

      In ancient times condominium meant common ownership by two or more persons of undivided fractional shares in the same property. The term later came to mean joint sovereignty, or rule over one territory by two or more states.

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Universalium. 2010.

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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