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A condo unit with shared land and amenities managed by a condominium corporation.

About this Module: When you buy a new home, your purchase agreement will include a document called the  ‘Addendum’. There are different versions of the Addendum depending on what kind of home you’re buying and the type of closing or occupancy date. The following module covers a condominium unit. A condominium unit is a home where each homeowner owns their unit and the shared land and amenities are collectively owned by the condominium owners and managed by a condominium corporation. If this isn't the type of home you're purchasing, please consult our other Addendum modules.