Condominium and Cooperative Law in Indiana
Cooperatives and condominiums are types of "common interest" communities.
This is a type of community in which the individual residents rent or own residential units in a building, or collection of buildings, but are collectively responsible for taking maintaining the common areas in their communities, such as lawns, gardens, swimming pools, and the like. This responsibility is typically taken care of by charging the residents a periodic maintenance fee, to pay for the upkeep of the common areas.
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.
This is because there are no physical characteristics that can clearly distinguish one from the other. The basic 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 Frankfort, Indiana
Frankfort, Indiana likely has several laws and regulations concerning common interest communities. However, these are mostly limited to the laws and regulations (zoning, land use, etc.) that concern all real estate owners.
Usually, the rules established by the owner of the property, or the entity tasked with managing it, are going to have much more of a day-to-day effect on your life than any state laws governing these types of communities.
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 typically mandate cleanliness, keeping noise to a minimum, and regulate the presence of pets.
The enforceability of some of these rules may depend on Frankfort, Indiana's laws governing relations between landlords and tenants.
Can a Frankfort, Indiana 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 knowledgeable Frankfort, Indiana real estate attorney can help you prevail.