Condominiums & PUDs

A condominium, or condo, is a form of housing where a specified piece of real estate (the housing unit) is individually-owned, while usage and access to common facilities (such as stairs, hallways, etc.) executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece.

Technically, a condominium is a collection of individual home units and common areas along with the land upon which they sit. Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home. The boundaries of that space are specified by a legal document known as a Declaration, filed of record with the local governing authority. Typically these boundaries will include the drywall surrounding a room, allowing the homeowner to make some interior modifications without impacting the common area. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium’s creation. The corporation holds this property in trust on behalf of the homeowners as a group–-it may not have ownership itself.

Condominiums have conditions, covenants, and restrictions, and often additional rules, that govern how the individual unit owners are to share the space.

It is also possible for a condominium to consist of single family dwellings: so-called “detached condominiums” where homeowners do not maintain the exteriors of the dwellings, yards, etc. or “site condominiums” where the owner has more control over and responsibility for the exterior appearance. The latter are often called a “planned unit community” (or PUD, for short).

It’s important for condo buyers in Greater Hartford CT to understand the differences between condominiums and planned unit communities as the responsibilities of the unit owners vary widely.

Although I have worked for many buyers and sellers of condominiums/PUDs in many towns, Walden Woods in Windsor, CT, Rolling Greens in Rocky Hill, CT, Meadowview-on-the-River in East Windsor, CT, and Dibble Hollow in Windsor Locks are 4 of my favorites.

Whether you’re looking to buy or sell in these communities or others in Greater Hartford CT, contact me, Lisa Giller, for more information.