Real estate condominium – within the area of Property Law, this term details a type of ownership of constructed immovable property in a building. Namely, this could be an apartment, office, studio, restaurant, etc. A common characteristic of the real estate condominium is that the owner holds title also on the related ideal share of the common parts of the building, where his apartment is. This is why all owners of such subjects in the same building, use to form a General Meeting. The local Condominium Law regulates the performance of General Meetings. Owners usually form it in order to decide about the maintenance of the common shares, repairs of the building, etc.
See also “real estate ideal co-ownership”.