{"iri":"https://folio.openlegalstandard.org/R83rG2F2Gwg1Tptjt4tnm5M","label":"Condominium Real Estate Asset","sub_class_of":["https://folio.openlegalstandard.org/RUBVBTCdh2Pbwc0lQCuZo9"],"parent_class_of":[],"is_defined_by":null,"see_also":["https://folio.openlegalstandard.org/R7VSt6Td4pEcRCInrHySSyf","https://folio.openlegalstandard.org/R83rG2F2Gwg1Tptjt4tnm5M","https://folio.openlegalstandard.org/R9zN7SGPrsshAytaOStmbmJ","https://folio.openlegalstandard.org/RBG9uiYhwntrBh3nO4nqsWX"],"comment":null,"deprecated":false,"preferred_label":"Strata Title Unit","alternative_labels":["Condo"],"translations":{},"hidden_label":null,"definition":"A condominium real estate asset refers to a type of property ownership where an individual owns a unit within a larger building or complex and shares ownership of common areas with other unit owners. Unlike a single-family home, where the owner controls the entire property, in a condominium, the individual unit ownership is coupled with a proportional interest in communal facilities like hallways, gardens, and amenities.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}