Condominiums;

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CONDOMINIUMS
by Andrew Ries
Andrew C. Ries, manager in the tax depart­ment
of our St. Louis office, is a member of
the American Institute of CPAs, Missouri
Society of CPAs, and the Missouri Bar Asso­ciation.
He is a member of the Legislative
Committee of the Missouri Society; chair­man
of the Legislative Committee, St. Louis
Chapter; and member, Mid-America Tax
Conference Committee, St. Louis Chapter.
In the past he has served as a member of
Council and chairman of Federal Taxation
Committee of the Missouri Society and as
chairman, Federal Taxation Committee and
Legislative Committee, St. Louis Chapter.
Mr. Ries received a BA in 1950 and a LLB
in 1952 from St. Louis University. He was
one of five students of a graduating class of
1500 who received an Outstanding Senior
Award. In 1958, after six-years' employ­ment
with a local CPA firm, Mr. Ries joined
TRB&S.
A real estate concept as old as Rome is the newest
vogue in residential investment for thousands of American
home owners, apartment dwellers and builders. Differing
in many respects from the co-op, the condominium offers
unusual features including certain tax advantages equal
to those for a single residence owner.
The word "condominium" has a Latin derivation re­flecting
its birth in Roman times. It means control to­gether
or joint ownership. It begins with the traditional
idea in the United States of vertical ownership applied to
the parts of a condominium common to all tenant owners:
lobbies, elevators, stairways, sidewalks, swimming pools.
Then, it adds the idea of horizontal ownership which deals
with the apartment units themselves.
Historically, the condominium form of ownership orig­inated
in Roman times and has been used for centuries
18 THE QUARTERLY