What if you buy both condos in a side-by-side?

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What happens to the condo association? Is it possible to dissolve it and take full ownership of the properties? If it can be dissolved, what happens to the previous funds accumulated by the previous condo association?

Are there only 2 units in the condo project?  You would own all the shares if that is case, and thus the accumulated funds belong to you. If you so choose you could dissolve the condo association.