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 normally 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 defining physical characteristics which are unique to one type of cooperative community, but not the other. The important differences aren't embodied in physical characteristics, but in the legal ownership arrangement governing the communities: in a condominium community, the residents own the units they live in. In a cooperative community, the units are rented.
Laws and Regulations Concerning Common Interest Communities in Warsaw, Indiana
There are several laws in Warsaw, Indiana 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.
Typically, 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 owner or manager of the property on which your unit sits will likely have a considerable number of regulations concerning what can be done in and around the housing units. These rules will likely concern cleanliness, noise, and policies governing the presence of pets and long-term guests.
This power, however, has limits. There are some rules which landowners cannot impose. Most obviously, they can't bar people from renting or buying units based on their race, religion, or national origin in Warsaw, Indiana. This conduct is illegal under state and federal law, and can result in severe civil penalties.
Can a Warsaw, Indiana Attorney Help?
If you have a dispute with a neighbor, your landlord, or your homeowners' association, a brilliant Warsaw, Indiana real estate attorney can be instrumental in obtaining a desired outcome.