Condominium and Cooperative Law in Indiana
Cooperatives and condominiums are instances 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 accountable for taking maintaining the common areas in their communities, such as lawns, gardens, swimming pools, and the like. This responsibility is normally taken care of by charging the residents a periodic maintenance fee, to pay for the upkeep of the common areas.
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.
There are no physical features distinct to either one, which can be used to distinguish them. Rather, the difference lies in the legal arrangement that covers the relationships between the residents and managers. In condominium communities, the residents own the units they live in, and collectively own the land and buildings in which they are located. In a cooperative community, the units are rented, and are owned by a single entity.
Laws and Regulations Concerning Common Interest Communities in Monticello, Indiana
Monticello, Indiana likely has numerous laws and regulations concerning common interest communities. Nonetheless, these are mostly limited to the laws and regulations (zoning, land use, etc.) that concern all real estate owners.
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.
The manager or owner of the land on which your residence is located will likely 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.
Some rules set by property owners or managers may not be enforceable, however. For instance, in Monticello, Indiana, any rule which purports to exclude residents based on race, color, national origin, or religion will not be legitimate. There are likely some others, as well.
Can a Monticello, Indiana Attorney Help?
If you have a problem with your landlord, your community association, or a neighbor (which the landlord is unwilling or unable to address), an accomplished real estate attorney in Monticello, Indiana will be able to help.