You need to know – What is a condominium?

YouNeedToKnowWeb500A condominium (also known as a condo) is a form of real property comprising of condominium units and common areas

Individuals own a unit exclusively together with a proportional share (sometimes termed an undivided fractional share) of the common areas

The common areas are attached to each unit and are transferred along with the unit when it is sold

This is a structure that enables common areas and services to be managed

Other structures that achieve the same goal include home cooperatives and home owner associations