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 Maryland, condominiums are regulated under the Maryland Condominium Act, which is found in the Real Property Article of the Maryland Annotated Code. This act outlines the creation, alteration, management, and termination of condominium regimes. Each condominium unit owner has an individual ownership interest in their unit and a shared interest in the common elements of the property, such as lobbies, roofs, and other amenities. The governance of a condominium is typically handled by a homeowners' association (HOA), which operates through a board of directors elected by the unit owners. The HOA is responsible for the management of common areas and enforces the rules and regulations set forth in the declaration and bylaws of the condominium. Unit owners are generally required to pay monthly or annual dues to the HOA to cover the costs of maintaining, repairing, and insuring the common areas, as well as any other expenses agreed upon by the association. Failure to comply with the HOA's rules or to pay the required dues can result in legal action against the unit owner, including liens and possible foreclosure.