Condominium and Cooperative Law in New Jersey
Cooperatives and condominium developments are examples of arrangements known as "common interest communities."
They are communities where each individual or family resident rents or owns an unit which is part of a larger building, containing other, similar, residential units. The residents are accountable responsible for the maintenance of the common areas of their living areas, such as gardens, walkways, lawns, and swimming pools. They usually meet this responsibility by paying a monthly fee to support this maintenance.
Merely viewing one of these communities from the outside (or inside) will not let you discern whether it's a cooperative or 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 governs 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 Medford Lakes, New Jersey
There are numerous laws in Medford Lakes, New Jersey 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.
Your day-to-day life in a common interest community will likelyy be impacted more by the rules set by the owner or manager of the property, rather than any local or state laws.
Because the land they occupy is usually private property, it is the owners of this property who make most of the rules that will affect your daily conduct. A responsible manager will usually make rules designed to balance your right to live as you please in your own residence, with the right your neighbors have to a clean, safe, and quiet living environment.
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 Medford Lakes, New Jersey. This conduct is illegal under state and federal law, and can result in grave civil penalties.
Can a Medford Lakes, New Jersey 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 experienced real estate attorney in Medford Lakes, New Jersey will be able to help.