Condominium and Cooperative Law in New York
Cooperatives and condominium developments are examples of arrangements identified as "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 persons 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 typically pay a periodic fee to cover maintenance.
Simply looking at the physical structure of a condominium or cooperative community, it would be nearly impossible to tell which is which.
This is because there are no physical characteristics that can clearly distinguish one from the other. The main difference lies in the legal ownership arrangement. In a condominium community, the units are actually owned by the residents. The residents also collectively own the common areas, holding joint title to it. In a cooperative community, the buildings and land which make up the houses are owned by a single entity, and the individual units are often rented rather than owned by the residents.
Laws and Regulations Concerning Common Interest Communities in Schenectady, New York
There are a large number of laws in Schenectady, New York that can affect condominiums and cooperatives, but few, if any, of them are unique to such common-interest communities. Alternatively, they're mostly governed by laws of general application, covering zoning, contracts, and landlord/tenant relations.
Your day-to-day life in a common interest community will probablyy be impacted more by the rules set by the owner or manager of the property, rather than any local or state laws.
The land on which these communities sit is private property, so the owners have substantial leeway when it comes to setting rules regarding what tenants can and can't do on the property. These rules usually govern things like noise levels, cleanliness, long-term guests, and pets. They are often designed with the goal of balancing residents' rights to a clean and quiet neighborhood, with their individual autonomy.
The enforceability of some of these rules may depend on Schenectady, New York's laws governing relations between landlords and tenants.
Can a Schenectady, New York Attorney Help?
If you have a dispute with a neighbor, your landlord, or your homeowners' association, a knowledgeable Schenectady, New York real estate attorney can be instrumental in obtaining a desired outcome.
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