Condominium and Cooperative Law in Kentucky
Cooperatives and condominiums are instances of "common interest" communities.
These are communities in which each resident rents or owns a residential unit. The residential units are part of a larger building, or complex of buildings, which are owned by another entity, such as a corporation or association. The residents are accountable for the upkeep of common areas, such as lawns and walkways. Rather than personally tending to these things, residents typically pay a fee that covers these necessities.
Just looking at the physical structure of a condominium or cooperative community, it would be nearly impossible to tell which is which.
This is because there are no defining physical characteristics which are distinct to one type of cooperative community, but not the other. The significant 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 Ludlow, Kentucky
There are numerous laws in Ludlow, Kentucky 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.
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 land that common interest communities occupy is typically private property. Therefore, the owners of the property are free to make certain rules governing what is and isn't allowed on it. A good manager or owner will typically make every effort to strike a balance between residents' freedom to do what they want in their homes, and the rights of their neighbors to a safe, clean, and reasonably quiet living space.
This authority, 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 Ludlow, Kentucky. This conduct is illegal under state and federal law, and can result in grave civil penalties.
Can a Ludlow, Kentucky Attorney Help?
If you have problems with your landlord, your homeowners association, or a neighbor, a reliable Ludlow, Kentucky real estate lawyer may prove invaluable.