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 Indianapolis, Indiana
There are a large number of laws in Indianapolis, Indiana that can affect condominiums and cooperatives, but few, if any, of them are unique to such common-interest communities. Alternatively, they're mostly governed by laws of general application, covering zoning, contracts, and landlord/tenant relations.
Your day-to-day life in a common interest community will probablyy be impacted more by the rules set by the owner or manager of the property, rather than any local or state laws.
The land on which these communities sit is private property, so the owners have substantial leeway when it comes to setting rules regarding what tenants can and can't do on the property. These rules usually govern things like noise levels, cleanliness, long-term guests, and pets. They are often designed with the goal of balancing residents' rights to a clean and quiet neighborhood, with their individual autonomy.
Some rules set by property owners or managers may not be enforceable, however. For example, in Indianapolis, Indiana, any rule which purports to exclude residents based on race, color, national origin, or religion will not be valid. There are likely some others, as well.
Can a Indianapolis, Indiana Attorney Help?
If you have a dispute with a neighbor, your landlord, or your homeowners' association, a knowledgeable Indianapolis, Indiana real estate attorney can be instrumental in obtaining a desired outcome.
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