[1] Condominiums have a life span of 50 years
Although, the law does not explicitly say that condominiums have a life span
of 50 years, it definitely implies so. Section 8c of The Condominium Act
says: http://pinoydreamhousetoday.com/6-things-to-consider-before-buy
[2] Some condos "rent" the land
Another form is *leasehold* or *ground rent* in which a single landlord
retains ownership of the land on which the building is constructed in which
the lease renews in perpetuity or over a very long term http://en.wikipedia.org/wiki/Condominium
