Condominium

/ˌkɒndəˈmɪniəm/ noun

Definition

A residential building divided into individually owned units where residents share common areas like hallways, parking, and outdoor spaces.

Etymology

From Latin 'condominium'—'con' (together) plus 'dominium' (domain or ownership). The term describes joint ownership of a property that became popular in 20th-century urban planning.

Kelly Says

The condo boom of the 1960s transformed how cities work, but the legal concept actually dates back to Roman times when neighbors shared walls—we've just reinvented it with modern amenities and mortgage rates!

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