Condominium and Cooperative Law in Minnesota
Cooperatives and condominiums are types of "common interest" communities.
These residential communities are composed of a single piece of land, occupied by one or more buildings, each of which contains more than one housing unit. The units are owned or leased by the people who live in them, but the buildings themselves, and the land they sit on, are owned either collectively by the residents, or by some third party. The residents are responsible for the upkeep of the buildings and the common areas of the property (walkways, lawns, swimming pools, etc.). To that end, they usually pay a periodic fee to cover maintenance.
Simply looking at the outside (or inside, for that matter) of a condo or cooperative community, you likely can't tell which it is.
The basic difference is that, in condominium communities, the units are purchased and owned by their residents, and they also collectively own the common areas of the development. In a cooperative community, the land and buildings in which the housing units are owned by a single corporation or association. The individual units are rented by the residents, not purchased.
Laws and Regulations Concerning Common Interest Communities in Prior Lake, Minnesota
While there are a lot of Prior Lake, Minnesota 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.
In general, the policies of the landowner or management board will have a much greater impact on the daily lives and conduct of residents than any state or local laws governing condominiums or cooperatives.
The owner or manager of the property on which your unit sits will likely have a significant 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 Prior Lake, Minnesota. This conduct is illegal under state and federal law, and can result in severe civil penalties.
Can a Prior Lake, Minnesota Attorney Help?
If you have a dispute with a neighbor, your landlord, or your homeowners' association, a good Prior Lake, Minnesota real estate attorney can be instrumental in obtaining a desired outcome.