Land Title Guarantee Company provides an indepth article detailing what exactly a Condominium is, and how a Condo compares to a Townhome. 

The LTGC definition: is a form of private ownership of individual units of “airspace” within a multi-unit structure, combined with joint ownership of commonly used property, structures, and amenities.

A townhome, may be in fact a “condominium”:  which is simply attached real estate, typically consisting of two or more floors, and connected to an adjoining unit by a common wall.  Key is that a person may have “condominium ownership” of the townhouse, or absolute ownership.

Title will determing the distinction of how the property is held.

Additional specific terms and definitions in the article include:

– Unit

– Condominium Unit

– General Common Elements

– Limited Common Elements

– Association

The full contents of the article may be viewed at: http://www.ltgc.com/files/technicalbulletins_customers/condominiums_mar05_web.pdf