Definition

Ownership of an individual unit where each homeowner only owns their individual unit space, and an undivided share in the ownership of common areas or in a common homeowner’s association (HOA). Generally, the ownership of the individual unit is described in a Condominium Plan and usually consists of ownership of the surface of the walls and the space within. The CC&Rs will detail what building components and other complex amenities are considered part of the common area and will describe the common area or HOA ownership percentages, and maintenance responsibilities.

Standard Lookup Value: Condominium


Legacy OData Value: Condominium

Lookup Name: CommonInterest

Synonym(s):  --

BEDES: --

Lookup Name ID: f880a9b

Lookup ID: 9cf7df4

References: RESI,RLSE,RINC,LAND,MOBI,FARM,COMS,COML

Spanish Lookup Value: Condominio

French-Canadian Lookup Value: --

Status Change Date: AUG 09 2017

Revision Date: OCT 24 2016

Added in Version: 1.6.0




For more information on items displayed on this page, see Data Dictionary Terms and Meta Definitions.


Page Revision Date: Jul 09 2022

Form: LookupValue