Condominium and Cooperative Law in New York

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.

If you simply look at a condominium or cooperative community, you probably won't be able to tell if it's one or the other.

The basic difference is that, in condominium communities, the units are purchased and owned by their residents, and they also collectively own the common areas of the development. In a cooperative community, the land and buildings in which the housing units are owned by a single corporation or association. The individual units are rented by the residents, not purchased.

Laws and Regulations Concerning Common Interest Communities in Cedarhurst, New York

Several Cedarhurst, New York 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 usually mandate cleanliness, keeping noise to a minimum, and regulate the presence of pets.

The enforceability of some of these rules may depend on Cedarhurst, New York's laws governing relations between landlords and tenants.

Can a Cedarhurst, New York Attorney Help?

If you are in a dispute with your homeowners' association, a neighbor, or your landlord in Cedarhurst, New York, a good real estate lawyer may prove extremely helpful, if the dispute cannot be otherwise resolved.