What does Condominium mean? Read on to discover the definition & meaning of the term Condominium - to help you better understand the language used in insurance policies.
A condominium is a housing unit that shares ownership of the land it's built on with other housing units. An association, usually composed of the owners of these housing units, provides the upkeep for common spaces, such as a communal swimming pool.
We hope the you have a better understanding of the meaning of Condominium.