the.com/condo
a house you own the inside of, and a stranger's committee owns the rest.
means a privately owned unit within a larger building or complex, where common areas are jointly owned and managed by an association.
from short for condominium, from latin com- (together) + dominium (ownership) — a legal concept for shared sovereignty, first applied to apartments in 1960s florida to dodge co-op restrictions.
legal splityou own the walls in, association owns everything else
hoa feespay monthly forever, even after mortgage ends
1960s boomflorida legalized it in 1963, sales exploded
vs co-opco-ops sell shares, condos sell actual real property