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 New Jersey, condominiums are regulated under the New Jersey Condominium Act (N.J.S.A. 46:8B-1, et seq.). This act provides the framework for the creation, ownership, and governance of condominiums. Each unit owner has an individual interest in their unit, as well as a shared interest in the common elements of the property, such as lobbies, roofs, and other communal facilities. The condominium association, often structured as a homeowners' association (HOA), is responsible for the management of the common areas, and it is governed by a board of directors elected by the unit owners. The association's declaration and bylaws, which must comply with state law, outline the rules for the administration of the condominium, the rights and obligations of the unit owners, and the process for electing the board of directors. Unit owners are typically required to pay monthly dues or assessments to the HOA for the upkeep, insurance, and repair of the common areas. Failure to comply with the HOA's rules or to pay the required dues can result in legal action by the association, and in some cases, a lien against the non-compliant owner's unit.