In a condominium, the grounds, and sometimes some structures, are jointly owned and usually run by a condominium association. But the individual units, buildings or apartments, are owned by their residents.
In the US most condominiums are attached -- either townhouse or apartment style.
- Condominiums are often cheaper than similar size individually owned homes.
- Condominiums tend to take care of much of the property maintenance for the owners.
- Condominiums usually have more rules, especially about the external appearance, than neighborhood associations or town bylaws.
- Condo vs Townhouse on diffen.com