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Often mistakenly referred to as a type of construction or building / development, it actually refers to the type of ownership. A condominium is all of the owners own the property, common areas and the physical building(s) together, with the exception of the interior of the unit to which they have title. This type of ownership - along with the types of construction in which it is generally practiced - is becoming more common in major growth areas as population increases and empty-nest baby boomers look to downsize.
