Condominium and Cooperative Law in Illinois
Condominiums and cooperatives are forms 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 people 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 usually pay a periodic fee to cover maintenance.
If you just look at one of these communities, you won't be able to tell whether it's a cooperative or a condominium community.
The general 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 inhabitants, not purchased.
Laws and Regulations Concerning Common Interest Communities in Fox Lake, Illinois
There are various laws in Fox Lake, Illinois 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.
One's 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 regulations of your state or city.
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.
Some of these rules, however, may not be enforceable, if push came to shove. This would depend on the particular laws of Fox Lake, Illinois which govern landlords and tenants.
Can a Fox Lake, Illinois 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 Fox Lake, Illinois real estate attorney can help you prevail.