Condominium

A form of Property ownership in which each owner holds Title to his/her individual Unit, plus a fractional Interest in the common areas of the multi-unit project. Each owner pays taxes on his/her property, and is free to Sell or Lease it.

Related Terms: 11 ACH, Action, FRA, Interest, Lease, Own, Property, Sell, Tax, Title, Unit

Other Related Pages: Category: Real_Estate Starting With: C

Additional Related Terms: Allowance for depreciation, Annuity unit, ACH, Accrual of discount, Accrued interest, After-tax basis, Amortization of premium, All or any part, Accumulated earnings tax, Add-on service