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.
Simply looking at the physical structure of a condominium or cooperative community, it would be nearly impossible to tell which is which.
There are no physical features unique to either one, which can be used to distinguish them. Rather, the difference lies in the legal arrangement that covers 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 Sunland Park, New Mexico
Several Sunland Park, New Mexico laws affect common-interest communities. However, almost all of these laws govern real estate more generally, and there are very few laws written specifically for common interest communities. Such generally-applicable laws include zoning regulations, contracts, and the relations between landlords and tenants.
Your 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 laws of your state or city.
The manager or owner of the land on which your residence is located will probably have a lot of rules concerning what can and cannot be done in and near the houses. These rules normally mandate cleanliness, keeping noise to a minimum, and regulate the presence of pets.
The authority of landowners is limited, however, and there are some rules that cannot be given legal effect. For instance, in Sunland Park, New Mexico, any rule which would exclude residents based on their race is completely unenforceable. Such discrimination is clearly prohibited under federal law, private property rights notwithstanding.
Can a Sunland Park, New Mexico Attorney Help?
If you are involved in an argument with your neighbor, in conflict with a zoning regulation, or in a dispute with your landlord, a brilliant Sunland Park, New Mexico real estate attorney can help you prevail.