What defines a condominium?

A condominium is defined as a type of property ownership where individual units are owned separately while common areas and facilities are owned collectively by all unit owners. This structure allows for private ownership of living spaces, typically referred to as units or apartments, alongside shared responsibility for the maintenance and upkeep of common areas such as hallways, pools, and gardens.

This answer is correct because it encapsulates the essential characteristics of a condominium—specifically, the combination of private ownership and shared community living. Unit owners typically pay fees for the management and maintenance of the common areas, reinforcing the shared ownership aspect. Thus, option A aptly describes what a condominium encompasses.