(a) A condominium is an estate in real property consisting of an undivided interest in common in a portion of a parcel of real property, together with a separate interest in a space in a building on such property.
(b) Such estate may, with respect to the duration of its enjoyment, be either:
(1) An estate of inheritance or perpetual estate;
(2) An estate for life; or
(3) An estate for years, such as a leasehold or a subleasehold.
(Ord. 537 § 2 (part), 1985)