Property Rights

Question 0

Planned Unit Development (PUD)

Answer 0

Each lot sold separately. Common use property owned by HOA.

Question 1

Condos, co-op, townhouse, units (shared walls for cost efficientcy)

Answer 1

Common Interest Subdivision

Question 2

Abutting walls, owner has unit & land. Owns part of wall.

Answer 2

Townhouses

Question 3

Units owned by trust or corp.

Answer 3

Cooperatives (Co-Op) trust: occupant buys certificate of ben. Interest. Corp: person purchases # of shares depending on cost of unit.

Question 4

True/false: coop board can approve to sell or lease a tenant.

Answer 4

True - by laws of a co-op state the co-op board can also vote to evict.

Question 5

Name condo General Elements- 3 General Common & 3 Limited Common

Answer 5

General(public) - yard, foundation, entry, tennis court, etc. LIMITED (personal) - patio, personal parking space, appointed garage or storage.