Definition: A condominium is a form of ownership with separately owned units and an undivided share of common elements attached to each unit.
Example
An owner holds a condominium unit together with its associated share in the common elements.
Keep the distinction clear
Condominium describes ownership, not simply an apartment-style building. The declaration defines boundaries and rights; Florida also recognizes leasehold arrangements.
Related terms
Common Elements (Condominium) · Cooperative (Co-op) · Real Property
Keep studying
Condominium Ownership: Your Unit and the Common Elements
References: Florida Statutes 718.103: condominium definitions
Pronunciation (US): kon-duh-MIN-ee-uhm (capitals show stress)
Pronunciation reference: Merriam-Webster
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