Would you please provide more context to the "condominium takeover"? With the small amount of information provided, I am 99% sure I have given the right information. But I would rather be 100% sure.
See
http://en.wikipedia.org/wiki/Condominium for a good discussion of condominiums.
As I explained earlier, what is happening here is the condominium which is the legal entity of all the individual owners (not مالک مشترک ) and is represented by the association for deciding matters related to the property, both common areas and individual units, has sold a certain percentage of units, and is taking over this responsibility from the builder.