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 Wyoming, condominiums are regulated under the Wyoming Condominium Act, which provides the legal framework for the creation, ownership, and governance of condominiums. Each condominium owner possesses an individual ownership interest in their unit, as well as a shared interest in the common areas of the property, such as roofs, hallways, and landscaping. These common areas are maintained through the collective efforts of the homeowners' association (HOA), which is typically managed by a board of directors elected by the unit owners. The HOA is established according to the declaration and bylaws of the condominium development, which outline the rules for management, the responsibilities of the unit owners, and the collection of monthly dues. These dues are used to cover the costs of maintaining, repairing, and insuring the common areas. The Wyoming Condominium Act also sets forth the rights and obligations of unit owners, the process for amending the declaration or bylaws, and the mechanisms for resolving disputes within the condominium community.