Condominium and Cooperative Law in Iowa
Condominiums and cooperatives are types of "common interest" communities.
These residential communities are composed of a single piece of land, occupied by one or more buildings, each of which contains more than one housing unit. The units are owned or leased by the individuals who live in them, but the buildings themselves, and the land they sit on, are owned either collectively by the residents, or by some third party. The residents are responsible for the upkeep of the buildings and the common areas of the property (walkways, lawns, swimming pools, etc.). To that end, they normally pay a periodic fee to cover maintenance.
If you simply look at a condominium or cooperative community, you probably won't be able to tell if it's one or the other.
The basic difference is that, in condominium communities, the units are purchased and owned by their residents, and they also collectively own the common areas of the development. In a cooperative community, the land and buildings in which the housing units are owned by a single corporation or association. The individual units are rented by the residents, not purchased.
Laws and Regulations Concerning Common Interest Communities in Marion, Iowa
While there are a lot of Marion, Iowa laws that will affect the residents and owners of condominium and cooperative communities, there are few that are actually specific to such communities. Rather, they are mostly governed by laws of more general application, such as contract law, zoning laws, and landlord/tenant law.
Typically, the rules established by the owner of the property, or the entity tasked with managing it, are going to have much more of a day-to-day effect on your life than any state laws governing these types of communities.
The manager or owner of the land on which your residence is located will probably have a lot of rules concerning what can and cannot be done in and near the houses. These rules normally mandate cleanliness, keeping noise to a minimum, and regulate the presence of pets.
This power, however, has limits. There are some rules which landowners cannot impose. Most obviously, they can't bar people from renting or buying units based on their race, religion, or national origin in Marion, Iowa. This conduct is illegal under state and federal law, and can result in severe civil penalties.
Can a Marion, Iowa Attorney Help?
If you have a dispute with a neighbor, your landlord, or your homeowners' association, a brilliant Marion, Iowa real estate attorney can be instrumental in obtaining a desired outcome.
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