2 Q?'s 1.) Is a Condo Declaration the same as the Declaration of Covenants, Conditions & Restrictions. Im currently researching a property with CC&R' and trying to distinguish if its a condo or non-condo PUD. 2.) Per the Fannie definition of a condo project... individual owners hold title to the units in the project along with an undivided interest in the... common areas. The CC&R's for this property state "Purchasers will not directly own any common property, but will indirectly own an undivided interest in the Association Property as a member of the Association The Association Property as defined as the common areas within the docs. Is indirectly owning undivided interest through the HOA of the common areas the same as having undivided interest in the common areas? Any insight would be greatly appreciated.