Condominium and Cooperative Law in Arkansas
Condominiums and cooperatives are types of "common interest" communities.
They are communities where each individual or family resident rents or owns an unit which is part of a larger building, containing other, similar, residential units. The residents are responsible responsible for the maintenance of the common areas of their living areas, such as gardens, walkways, lawns, and swimming pools. They normally meet this responsibility by paying a monthly fee to support this maintenance.
If you simply look at one of these communities, you won't be able to tell whether it's a cooperative or a condominium community.
There are no physical features unique to either one, which can be used to distinguish them. Rather, the difference lies in the legal arrangement that covers the relationships between the residents and managers. In condominium communities, the residents own the units they live in, and collectively own the land and buildings in which they are located. In a cooperative community, the units are rented, and are owned by a single entity.
Laws and Regulations Concerning Common Interest Communities in De Queen, Arkansas
There are many laws in De Queen, Arkansas that might be applicable to common interest communities. But most of these laws are not unique to common-interest communities. Rather, they usually concern zoning, land use, and contract law, which are applicable to most other types of real estate, as well.
The daily lives of residents, and what they are and aren't allowed to do in their residences, will be far more heavily impacted by rules and regulations that the homeowner's association, or the owner of the land, has imposed.
The land that common interest communities occupy is normally private property. Therefore, the owners of the property are free to make certain rules governing what is and isn't allowed on it. A good manager or owner will normally make every effort to strike a balance between residents' freedom to do what they want in their homes, and the rights of their neighbors to a safe, clean, and reasonably quiet living space.
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 De Queen, Arkansas. This conduct is illegal under state and federal law, and can result in severe civil penalties.
Can a De Queen, Arkansas Attorney Help?
If you have problems with your landlord, your homeowners association, or a neighbor, a brilliant De Queen, Arkansas real estate lawyer may prove invaluable.