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 Nebraska, condominiums are governed by the Nebraska Condominium Act (Neb. Rev. Stat. § 76-825 et seq.). This act outlines the creation, alteration, management, and termination of condominium regimes. Each condominium unit owner has an exclusive 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 the condominium is typically managed 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. Unit owners are required to pay regular assessments (HOA dues) to fund the maintenance, repair, and insurance of the common areas. The HOA is 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 declaration and bylaws of the condominium association.