A condominium, for example, is an alternative form of home ownership. It allows separate ownership of an individual unit in a multi-unit building complex but may also entail obligations with other owners. Because of the close nature of the living arrangements and the need to provide payment for common expenses, condominiums have restrictions on use and management that are contained in a recorded declaration. Such ownership may also include assessments for maintenance or improvements, which may be liens or encumbrances against the unit.
Special consideration must also be given for other forms of multiple ownership, such as cooperatives, co-housing, mobile homes, and Seattle's unique Floating Home community.