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(3) "Condominium" means a form of real property ownership that combines separate ownership of individual apartments or units with common ownership of other elements.
A condo is a form of private housing whereby individual portions of this land is owned by different owners. Aside from individually owned apartment units, there are common facilities shared by all unit owners such as the hallway, elevator, lobby and exterior areas like swimming pool, garden and gym.
The main difference between a condo and an apartment is ownership. The condo has a unique owner, whereas an apartment is a part of a large residential building.
Condo repair laws tend to define a line between resident and building maintenance. Everything inside one owner's unit, from the walls out, is resident territory. Every home asset outside the unit walls is the HOA's responsibility.
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