### Question
How does the law define eligible condominium property?


### Answer
Under *12 U.S.C. § 1831q*, **eligible condominium property** is defined as:

> a condominium unit, as such term is defined in section 3603 of title 15—


(A) to which such Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property)

#### Citation:
  - *12 U.S.C. § 1831q*
  - Heading: **CHAPTER 16-FEDERAL DEPOSIT INSURANCE CORPORATION**

