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 Vermont, condominiums are regulated under the Vermont Common Interest Ownership Act (VCIOA), which is found in Title 27A of the Vermont Statutes. This law provides the framework for the creation, management, and dissolution of condominiums. Each condominium unit owner has an individual ownership interest in their unit and a shared interest in the common areas of the property, such as lobbies, roofs, and other amenities. The homeowners' association (HOA) governs the condominium development, and its board of directors is typically elected by the unit owners. The HOA is responsible for the enforcement of the community's declaration, bylaws, and rules. Unit owners are required to pay regular dues or assessments to the HOA for the upkeep of common areas, insurance, and other shared expenses. These dues are mandatory, and failure to pay them can result in liens against the unit and other legal consequences. The VCIOA sets out the rights and responsibilities of unit owners, the HOA, and the board of directors, ensuring that the condominium community is managed fairly and effectively.