Townhome

{
  "id": "MLC-T-INS-003350",
  "term": "Townhome",
  "field": "Insurance and risk management",
  "definition": "A type of single-family dwelling that shares one or more vertical walls with an adjacent unit, but has its own separate entrance from the street. For insurance purposes, the owner of a townhome owns both the structure and the land it sits on, distinguishing it from a condominium where ownership is confined to the interior unit space. A townhome owner's policy (HO-3) covers the building, personal property, and liability, similar to a policy for a detached house.",
  "url": "https://mlchart.com/terminology/insurance/townhome/"
}