Condominium and Cooperative Law in New Mexico
Cooperatives and condominium developments are examples of arrangements recognized as "common interest communities."
These are residential areas with one or more buildings, each housing multiple residential units. The units are part of a larger building, which contains other residential units. In turn, there are several such buildings on the property. The units are rented or owned by the residents, but the building as a whole, and the land on which it sits, is owned either by a third party, or collectively by all the residents. The residents, in addition to mortgage or rent, normally have to pay a fee to cover maintenance of the common areas.
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 physical characteristics that can precisely distinguish one from the other. The major difference lies in the legal ownership arrangement. In a condominium community, the units are actually owned by the residents. The residents also collectively own the common areas, holding joint title to it. In a cooperative community, the buildings and land which make up the houses are owned by a single entity, and the individual units are often rented rather than owned by the residents.
Laws and Regulations Concerning Common Interest Communities in Carlsbad, New Mexico
There are a huge number of laws in Carlsbad, New Mexico that can affect condominiums and cooperatives, but few, if any, of them are unique to such common-interest communities. Rather, they're mostly governed by laws of general application, covering zoning, contracts, and landlord/tenant relations.
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 land that common interest communities occupy is normally 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 normally 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.
Some rules set by property owners or managers may not be enforceable, however. For instance, in Carlsbad, New Mexico, 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 Carlsbad, New Mexico 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 Carlsbad, New Mexico will be able to help.