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Real Estate Glossary

Condominium

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Written by Luis Escobar

This refers to a form of real estate in which each suite is individually owned, typically by the tenant of the space. In the U.S., condominiums are often used for residential purposes; however, some commercial condominiums do exist. In that case, it is a mixed-use building wherein the ground floor is composed of retail stores or suites for a medical office.

This refers to a form of real estate in which each suite is individually owned, typically by the tenant of the space. In the U.S., condominiums are often used for residential purposes; however, some commercial condominiums do exist. In that case, it is a mixed-use building wherein the ground floor is composed of retail stores or suites for a medical office.

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Luis Escobar

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