Condominium and Cooperative Law in Illinois
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.
Simply looking at the outside (or inside, for that matter) of a condo or cooperative community, you likely can't tell which it is.
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 Beardstown, Illinois
Many Beardstown, Illinois laws affect common-interest communities. However, almost all of these laws govern real estate more generally, and there are very few laws written specifically for common interest communities. Such generally-applicable laws include zoning regulations, contracts, and the relations between landlords and tenants.
Your daily life in a cooperative or condominium community is more likely to be affected by the rules set by the owners or managers of the property, rather than the laws of your state or city.
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.
The enforceability of some of these rules may depend on Beardstown, Illinois's laws governing relations between landlords and tenants.
Can a Beardstown, Illinois Attorney Help?
If you have a dispute with a neighbor, your landlord, or your homeowners' association, a brilliant Beardstown, Illinois real estate attorney can be instrumental in obtaining a desired outcome.