Here is what you need to know:
Definition of a Condominium (from Condominium Property Act):
A condominium is a form of real property ownership that has two distinct parts: you own your condominium unit to which you get a title, and you also jointly own common property with the other unit owners in your complex. Owning a condominium is not the same as renting an apartment where all the
duties and responsibilities of running the building are handled by the building owner and caretaker. In a condominium complex, ownership responsibilities belong to you and all the other unit owners in your
condominium corporation. Some examples of residential condominiums are an apartment within an apartment building, a duplex, a bungalow, or a townhouse.