When you own a conventional condo unit, your ownership is limited to the interior of that unit. You don’t need to insure any common elements in the building, like the pool or fitness area. All you’re responsible for is the unit itself.A bare land condo is a larger plot of land. Ownership includes things outside of the property itself, so you have a bit more responsibility. Depending on your lot, that may include a garage, trees, and other parts of the landscape.One advantage to this type of ownership is that you usually pay lower condo fees. However, you are responsible for more of the outdoor space.