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A condominium, or “condo” for short, is an individual unit privately owned within a building of other units.

Condo buildings and townhouses can be owned in the form of a condo. Private ownership is from the exterior walls in and a percentage of the common areas. Here’s a few common area examples…

• Pools
• Garages
• Elevator
• Outside hallways
• Lobbies
• Parking lots

All owners within the condo building make decisions together and follow rules established by By-Laws and Declarations. The condo association and board of directors oversees the covenants, conditions, and restrictions. Owners elect the board of directors.

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• 6 Valuable Things to Know Before Buying a Condo
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• 5 Things to Know When Buying a Condo in Ocean City, MD