Commercial or Residential, Condominiums are sought after like hot cakes nowadays. With a variety of condominium designs, these properties can be inspired into 1 or more, high rise buildings, garden style buildings, townhouses and even individual houses. There are those in large multi-unit buildings and others detached from each other but structured in a secured planned community and those built in resort or vacation hotspots.
Legal arrangements of owning would mainly consist of individual ownership of each unit but with joint ownership of the common area of all residents in the condominium. Basically, a condominium complex are divided into many living units, each being owned by individuals while the common areas such as parking, lobby, roof, gym, etc. are jointly owned by all unit owners and the condominium owner itself. Everyone has rights to these common areas as well as obligations to maintain these shared areas.
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