Condominium and Cooperative Law in New York
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.
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 Colonie, New York
While there are a lot of Colonie, New York laws that will affect the residents and owners of condominium and cooperative communities, there are few that are actually specific to such communities. Rather, they are mostly governed by laws of more general application, such as contract law, zoning laws, and landlord/tenant law.
Your day-to-day life in a common interest community will probablyy be impacted more by the rules set by the owner or manager of the property, rather than any local or state laws.
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 enforceability of some of these rules may depend on Colonie, New York's laws governing relations between landlords and tenants.
Can a Colonie, New York Attorney Help?
If you have a dispute with a neighbor, your landlord, or your homeowners' association, a brilliant Colonie, New York real estate attorney can be instrumental in obtaining a desired outcome.