Condominium and Cooperative Law in New Mexico

Cooperatives and condominium developments are examples of arrangements known 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, usually 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 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 Taos, New Mexico

Many Taos, 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.

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.

Some of these rules, however, may not be enforceable, if push came to shove. This would depend on the specific laws of Taos, New Mexico which govern landlords and tenants.

Can a Taos, New Mexico Attorney Help?

If you have a dispute with a neighbor, your landlord, or your homeowners' association, a good Taos, New Mexico real estate attorney can be instrumental in obtaining a desired outcome.