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 usually 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 Madison, Indiana
While there are a lot of Madison, Indiana laws that will affect the residents and owners of condominium and cooperative communities, there are few that are actually specific to such communities. Instead, they are mostly governed by laws of more general application, such as contract law, zoning laws, and landlord/tenant law.
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 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 usually mandate cleanliness, keeping noise to a minimum, and regulate the presence of pets.
Some rules set by property owners or managers may not be enforceable, however. For example, in Madison, 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 Madison, 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 good Madison, Indiana real estate attorney can help you prevail.