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 Missouri, condominiums are governed by the Missouri Condominium Property Act (Chapter 448, RSMo). 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 elements of the property, such as lobbies, roofs, and other amenities. The operation of a condominium is typically overseen by a homeowners' association (HOA), which is responsible for maintaining the common areas and enforcing the rules set forth in the declaration and bylaws of the association. The HOA is managed by a board of directors elected by the unit owners. Condominium owners are required to pay regular assessments or dues to the HOA to cover the costs of upkeep, repairs, and insurance for the common areas. These regulations ensure that the shared property is properly maintained and that the rights and responsibilities of individual unit owners are clearly defined.