Landominium

If you own a home, you own the building (the actual house, and whatever structures you’ve got on your compound...pool house, gazebo, grotto, podcast studio, etc.). You also own the land it’s built on. You’re like your own little feudal lord. Raise the drawbridge. Do whatever you want.

If you rent an apartment, meanwhile, you don’t own any of it. Your landlord owns the building, the land, etc. Your rent just buys you the right to live there.

A condo splits the difference somewhat. You own the living space, the internal walls, the floor, the ceiling, etc. But the land and any common buildings are owned by the condo company.

A landominum takes it a step closer to a traditional house ownership. Not only do you own the living space, you own the land the house is built on as well. But, there are still some common areas that are owned by a third party.

Usually, this form of property ownership comes up in a development where there are certain shared amenities. Things like a golf course, a ski slope, a sweat lodge, etc.