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TeachMeFinance.com - explain Condominium Condominium The term 'Condominium' as it applies to the area of flooding can be defined as 'That form of ownership of real property in which each unit owner has an undivided interest in common elements'. Previous 5 Terms: conditional probability Conditional registration conditional statement Conditionally effective rates Conditionally Unstable Air Next 5 Terms: Conduction conduction Conductor Conduit Conduit (volcanic) About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.