Miami-Beach Condo Collapses.

[BIAD]

I must confess, I'm not very well versed in condo ownership, since I've never been one for living in an ant-hill if I could avoid it.
Does this mean that when you buy a condo, you don;t actually buy it at all, and someone else is the "unit owner"?

A Condominium Lease Agreement is a form that is signed between the owner of a residential unit located
in a condominium association and rents out space to a willing tenant.

The individual(s) that decide to lease the space will be obligated to uphold the rules and regulations of the association
and they should have all rights to use any of the facilities, common areas, and have any other privileges of the community
(unless otherwise stated in the agreement).

The condominium owner and lessee shall hold the same landlord and tenant rights as if the property were any other type
of residential unit and once signed, the document becomes legally binding to both parties.

A condominium, is a unit of property amongst other similar units that share the rights to the property’s common areas.
Most residential high rises you see in cities are condos. Each owner within the condominium pays an “association” fee
which goes towards the maintenance of the property and salaries of those employed by the association (Doormen,
cleaners, etc.).
(Source:)