Condominium and Cooperative Law in Nevada
Cooperatives and condominium developments are examples of arrangements identified 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, typically 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 defining physical characteristics which are distinct to one type of cooperative community, but not the other. The significant differences aren't embodied in physical characteristics, but in the legal ownership arrangement governing the communities: in a condominium community, the residents own the units they live in. In a cooperative community, the units are rented.
Laws and Regulations Concerning Common Interest Communities in Fernley, Nevada
There are numerous laws in Fernley, Nevada 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.
The daily lives of residents, and what they are and aren't allowed to do in their residences, will be far more heavily impacted by rules and regulations that the homeowner's association, or the owner of the land, has imposed.
Because the land they occupy is typically 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 typically 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.
The power of landowners is limited, however, and there are some rules that cannot be given legal effect. For example, in Fernley, Nevada, 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 Fernley, Nevada 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 reliable Fernley, Nevada real estate attorney can help you prevail.