Condominium

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.