condominium property [condo]

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Tags: law

A form of property ownership in which each owner holds title to his/her individual unit, plus a fractional interest in the common areas of the multi-unit project. Each owner pays taxes on his/her property, and is free to sell or lease it.
(Read more: http://www.investorwords.com/1020/condominium.html#ixzz2IEOX9Bji)

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