Condominium
Part of speech: noun
Definition: a building in which each unit is owned by an individual but the grounds, structure etc is owned jointly a unit or apartment in such a complex the legal tenure involved joint sovereignty over a territory
Condo
Part of speech: abbreviation
Definition: a condominium
Example sentence: I live in New York City, but I live in Hoboken because it's cheaper there, and I can own a condo.