what is the difference between owning a townhome and condo?

I read in the internet saying the townhome owner owns the land also on which it is built, where as the condo owner has proportional rights only to the common areas. If thats the case – who owns the land on which the condo is built?
Thanks for the quick explanations.. on a side note – what is the average life of a condo or townhome? (we are looking for data related to Dallas, Tx)

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