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A condominium, or condo, is a type of property ownership under which an individual owns a particular unit in a multi-unit development, and where all unit owners share an undivided interest as tenants in the common areas such as hallways, lobbies and community facilities. This walkthrough will explain the characteristics of a condominium and explore various considerations when researching and making a condominium purchase.

SEE: Does Condo Life Suit You?

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