Condominium

A condominium refer to a form of legal ownership, as opposed to a style of construction. Condominiums are most often thought of as a high-rise residential buildings, but this form of ownership can also apply to townhouse complexes, individual houses and low-rise buildings.

Condominium consist of two parts. The first part is a collection of private dwellings called "units". Each unit is owned by and registered in the name of the purchaser of the unit. The second part consists of the common elements of the building that may include lobbies, hallways, elevators, recreational facilities, walkways, gardens,etc. Common element may also include structural elements and mechanical and electrical services.  The ownership of these common elements is shared amongst the individual unit owners, as is the cost for their operation, maintenance and ongoing replacement. 

Here are some links to give you more information about condominium ownership 

The ABC’s of Condominiums

Condominium Property Act

Condominium Property Regulation