A condominium is a single unit of real estate—usually a home or residence—in a multi-unit residential development in which each owner of a unit has both a separate ownership interest (often everything inside the front door)—and a common ownership interest (with other unit owners) in the common areas of the property outside the front door—such as roofs, hallways, driveways, walkways, stairways, stucco, brick, paint, stone, and landscaping.

A condominium development is usually governed by a homeowners’ association (HOA) through its board of directors, elected by the homeowners as provided by the HOA’s declaration and bylaws. Unit owners or homeowners in the association are required to pay monthly HOA dues for the maintenance and repair of the common areas of the property and its insurance.

In Indiana, condominiums are governed by the Indiana Condominium Act, which is found in the Indiana Code at IC 32-25. This Act outlines the creation, ownership, and management of condominiums within the state. Each condominium owner possesses an individual ownership interest in their unit and a shared interest in the common areas, such as lobbies, gyms, and outdoor spaces. The common areas are maintained through the collection of monthly dues from the unit owners, which are managed by the homeowners' association (HOA). The HOA is typically run by a board of directors elected by the unit owners. The board's powers and responsibilities, along with the rights and obligations of the unit owners, are detailed in the HOA's declaration and bylaws. These documents also outline the process for electing the board, the assessment of dues, and the maintenance of common areas. Indiana law requires that these governing documents comply with state statutes, and they are enforceable as long as they do not conflict with state law.