What is the Meaning of Condo or Condominium?

What is the Meaning of Condo?

Condo meaning: ‘Condo’ is the short form of the word ‘Condominium’ that means a large building complex divided into several units and separately owned by individuals. Though the separate units of such buildings are owned by individuals, the common areas surrounding the buildings are jointly owned.

Why is it called a condo?

Let’s know about the origin of ‘condo’.

The word ‘Condominium’ is derived from the Latin word ‘dominium’ by adding the prefix ‘con’. While ‘dominium’ means ‘dominion or ownership’, ‘con’ suggests ‘together’. So, the meaning of ‘condominium’ or ‘condo’ is ‘joint dominion’ or ‘co-ownership’.

When was the word ‘condo’ first used?

The word condo was first used in the year 1964 in the sense that I have told you in the above discussion.

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