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Is a condominium a home or a house?

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Anonymous

14y ago
Updated: 8/18/2019

A home is where people live.

A house generally means a single family house surrounded by a lot.

A condominium is a form of real estate ownership that can be applied to units within a high-rise building, a multi-family residential building, plots of land where people park mobile homes part of the year, boat slips where people store floating inventory, storage and shop business parks where people own individual units, and more.

Condominium ownership implies that an owner owns a 'unit' individually, and owns common areas in the complex in common with all other owners. Owners pay assessments to fund operation of the complex. Generally, condominium associations are non-profit corporations.

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Wiki User

14y ago

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