A townhouse or townhome is a single family home that shares one or more walls with other independently-owned units. They are often rows of uniform homes, two stories or taller.
Fee Simple: The seller has complete and total ownership of a piece of land and all properties on it
Condominium: The seller owns the interior of a unit but shares an ownership interest in the land and common areas with other owners in the building.
Co-Operative: A cooperative (or “co-op”) is a multi-unit building where each resident owns an interest in the building.
Leasehold: The seller has the right to occupy the property but not sell it.
Timeshare: Fractional ownership, where buyers purchase the right to occupy a unit of real estate over specified periods.