WHAT IS A CONDOMINIUM?

"Condominium"  is a legal framework for the subdivision and ownership of real property (including buildings).

A condominium is not a thing: it is legal concept that permits the subdivision and title separation of:

1. land and buildings; and
2. the areas within the buildings.

Any real property can made subject to condominium provided the person registering condominium (called the "declarant") either owns the land on which the condominium is proposed or has leasehold interest in such lands.

The nature of the declarant's holding either freehold or leasehold determines whether the condominium created on the land will be freehold or leasehold.

                                       (Source: Canadian Condominium Institute)

Katia Melnikova