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.
Merely viewing one of these communities from the outside (or inside) will not let you discern whether it's a cooperative or condominium community.
There are no physical features distinct 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 Oyster Bay, New York
Oyster Bay, New York likely has numerous laws and regulations concerning common interest communities. Nonetheless, these are mostly limited to the laws and regulations (zoning, land use, etc.) that concern all real estate owners.
In general, the procedures of the landowner or management board will have a much greater impact on the daily lives and conduct of residents than any state or local laws controlling condominiums or cooperatives.
Because the land they occupy is normally 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 normally 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 enforceability of some of these rules may depend on Oyster Bay, New York's laws controlling relations between landlords and tenants.
Can a Oyster Bay, New York Attorney Help?
If you have problems with your landlord, your homeowners association, or a neighbor, a seasoned Oyster Bay, New York real estate lawyer may prove invaluable.