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WHAT'S THE
TERM USED
TO DESCRIBE
A CONDO
ASSOCIATION?
Condos are prevalent throughout the United
States, Canada, and Mexico. And in these
countries, a condo association represents
an ownership structure. All condo owners
not only own their units, but also share
in the ownership and responsibility of
maintaining common structural elements
and amenities. In a condo association, the
individual owners own a percentage of
shared property.
Still, each country has slight variations on
the term "condo association." This includes:
• UNITED STATES: Condominium
association
• CANADA: Condominium corporation
• MEXICO: Condo regime
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