Resources > Glossary > Condominium Conversion

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Condominium Conversion

Function: noun

Definition 1:
Changing the ownership of an existing building that is usually a rental project to the condominium form of ownership. In the case of a condominium conversion, a single property would be divided into a property with some common areas, with the rest of the property divided into individually owned units.