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PUDs and Condominiums

Published On: August 2, 2010


Today we'd like to talk about a few facts involving the two most popular types of common interest developments in California.  Condominiums and Planned Unit Developments (PUDs).  Both of these types of properties have a few key similarities as well as some key differences.

Some of the characteristics that are shared by these two types of property are:

- Common Ownership of private residential property

- Mandatory membership of all owners in an Association which controls use of the common property.

-Governing documents or CC & Rs which establish the rules all owners must follow in use of their individual lots as well as shared areas.

Now, what are the differences you ask? Well for one the owner of a Condominium owns 100% of the unit as defined by the Condominium Plan.  They also own a share in all common areas.  The PUD owner only owns the lot as shown in the Tract Map along with the structure and improvements.  However, they do receive rights and easements to use in the common areas.

Don't forget people the summer is the perfect time to sell your home!  So if you're looking to put your house on the market Century 21 McDaniel has an agent for you.  We excel in everything including REO, Bank Owned, Foreclosure and Short Sales, so give put you in your dream home today and give us a call!

Century 21 McDaniel & Associates

The REO, Bank Owned, Foreclosure and Short Sale experts!