Real Estate Possession Generally, apartment-style structures are called condominiums, two-story row houses are called town homes, and free-standing homes on small whole lots are referred to as yard houses. Unfortunately, this description develops some confusion concerning real estate possession. House, town house, and garden house explain the layout or construction of particular houses. Words "condo" does not refer to a the design or style of a structure. Condo is a form of ownership of property. The form of ownership of realty can not be acknowledged by observing the building style.