What does it mean when a condo is insolvent?

What does this mean in a condo add?

• Hello. Can someone please tell me what the following means? In a local condo ad I read this and I'm not sure of what to make of it. Part of the ad reads: Ownership: Undivided. In addition to that it also includes: Property Style: Undivided Co-Ownership. I need some help in understanding exactly what these two things mean, more so the "undivided" part. Thanks and God Bless!

• Answer:

  http://www.todaysseniors.com/pages/Ownership.html "The precise form of ownership is established when you purchase the item, set up the bank account, or transfer ownership. For your more valuable items, it is shown on your property deed, ownership title, account papers, trust document, etc. Different forms of ownership can produce very different financial results – often with a very significant impact on income taxes, gift taxes, estate taxes and probate expenses for both you and your heirs. For more information, including the advantages and disadvantages of each form, talk with your tax attorney or other trusted financial advisor. This is especially important if you want to transfer ownership of something you own to someone else. In brief, here are the 7 most common forms of ownership: [...] Joint Tenancy You own an asset along with one or more other people. Each of you has an "undivided ownership interest" in the property. Everyone has an equal right to use the property. Each joint tenant has the right of survivorship. That is, upon the death of one owner, full title in the property is transferred to the survivor without going through probate."