Condominium - Law Dictionary Search Results

Home Dictionary Name: condominium

condominium

condominium pl: -ums [New Latin, joint dominion, from Latin com- with, together + dominium rule, ownership] 1 : ownership of real property that is characterized by separate ownership of portions of the property (as units in an apartment building) and undivided or joint ownership of the remainder (as the common areas of an apartment building) [the conversion of real property to the form of ownership "Troy Ltd. v. Renna, 727 F.2d 287 (1984)"] compare cooperative 2 : real property (as an apartment or building) having condominium ownership [a two-bedroom ] ...

declaration of condominium

declaration of condominium see declaration ...

deed

deed 1 : something done : act [my free act and ] 2 : a written instrument by which a person transfers ownership of real property to another see also deliver, grantee, grantor, recording act, registry, title compare certificate of title NOTE: A deed must be properly executed and delivered in order to be effective. Additionally, the grantor must have freely intended to make the transfer at the time of the conveyance. Deeds are recorded at the local registry of deeds to give notice of ownership. bargain and sale deed 1 : a contract resulting from a bargain between a buyer and a seller of real property that creates a use in the buyer and therefore transfers title to the buyer by operation of law 2 : a deed in which the grantor makes no warranties of title to the grantee deed of trust : an instrument securing a debt in which a debtor conveys the legal ownership of real property to a trustee to be held in trust for the benefit of the creditor or to be sold upon the debtor's defaul...

declaration

declaration 1 : the act of declaring [ of dividends] [ of war] 2 a : the first pleading in a common-law action compare complaint, indictment b : a statement usually not under oath made by a party to a legal transaction [the attorney must later sign an affidavit or stating that he has informed the debtor "J. H. Williamson"] c : a statement not under oath being offered as evidence declaration against interest : a statement made by someone unavailable as a witness that is against that person's own interests (as pecuniary or property interests) or may subject that person to liability compare admission, confession, self-incrimination NOTE: A declaration against interest is an exception to the hearsay rule. A statement that is offered to clear the accused is not admissible without corroborating circumstances under the Federal Rules of Evidence. dy·ing declaration : a statement that is made by a person who firmly believes that he or she is about to die and has no hope of recove...

cooperative

cooperative : of, relating to, or organized as a cooperative n : an enterprise or organization (as for banking and credit services or the ownership of residential property) that is owned by and operated for the benefit of those using its services called also co-op compare condominium ...

timeshare

timeshare often attrib : an agreement or arrangement in which parties share the ownership of or right to use property (as a resort condominium) and that provides for occupation by each party esp. for periods of less than a year called also timesharing timeshare vt ...

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