Condominium and Cooperative Law in Florida
Condominiums and cooperatives are forms of "common interest" communities.
These are residential areas with one or more buildings, each housing multiple residential units. The units are part of a larger building, which contains other residential units. In turn, there are several such buildings on the property. The units are rented or owned by the residents, but the building as a whole, and the land on which it sits, is owned either by a third party, or collectively by all the residents. The residents, in addition to mortgage or rent, usually have to pay a fee to cover maintenance of the common areas.
If you simply look at a condominium or cooperative community, you likely won't be able to tell if it's one or the other.
There are no physical features distinct to either one, which can be used to distinguish them. Rather, the difference lies in the legal arrangement that governs 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 New Smyrna Beach, Florida
Numerous New Smyrna Beach, Florida laws affect common-interest communities. However, almost all of these laws govern real estate more generally, and there are very few laws written particularly for common interest communities. Such generally-applicable laws include zoning regulations, contracts, and the relations between landlords and tenants.
In general, the procedures of the landowner or management board will have a much greater impact on the daily lives and conduct of residents than any state or local laws controlling condominiums or cooperatives.
Because the land they occupy is usually private property, it is the owners of this property who make most of the rules that will affect your daily conduct. A responsible manager will usually make rules designed to balance your right to live as you please in your own residence, with the right your neighbors have to a clean, safe, and quiet living environment.
The enforceability of some of these rules may depend on New Smyrna Beach, Florida's laws controlling relations between landlords and tenants.
Can a New Smyrna Beach, Florida Attorney Help?
If you are involved in an argument with your neighbor, in conflict with a zoning regulation, or in a dispute with your landlord, a reputable New Smyrna Beach, Florida real estate attorney can help you prevail.