Condo or PUD/SFR?

[Nancy Heiss]

I recently performed an appraisal on a condo. It is in a gated community. Each building has 4 attached units and small lots. There are mandatory monthly HOA dues. Realist shows County Land Use: Condo. Universal Land Use: Condominium. The legal description on Realist reads exactly: Tract 8946 Lot 20 Tract 8946 Lot 20 and int in common area as per record and pursuant to Sec 2188.5 of revenue and taxation code.

Clients sent me an email stating unit is a PUD and should be on form 1004. I requested a copy of the title report. Legal description reads: Lot 20 of Tract No. 8946 in the city of Upland, County of San Bernardino as per Map recorded in Book 133 pages 68 and 69 of maps, in the office of the county recorder of said county.

Would you consider the unit an SFR in a PUD or a condo? Thanks for your feedback and input....

 

[Noreen]

Hi Nancy, the practice here is that anytime a "unit" has title to a specific site and unsubdivided common land, required fee impacting title interest, this would be a PUD here. ( NH & MA) Complete, unsubdivided site is considered a condo.

 

[J Grant]

sounds like SFR in a pud, typically condos have the word "Condo" in legal description.

 

[gregb]

In the counties I work, if the legal description states a lot # and no unit #, then a property is not considered to be a Condominium. Other factors determine whether it is a PUD or a SFR not within a PUD. The county land use codes are not relevant in determining the property type. Nor are notes on the plat. If the legal description states a unit #, its likely a condominium unit.

 

[Joyce Potts]

Legal Description citing LOT is your determining factor, IMO. The ownership includes the land underneath the improvement and not a partial, undivided interest. In my market, the actual legal description trumps the state land use in most cases.

 

[Mike Kennedy]

Is it this one? If not, you may be able to find the info on yours - online

http://www.uplandsummithoa.com/about.php

DOCUMENTS http://www.uplandsummithoa.com/documents.php

 

[Tim The Enchanter]

I don't think the use shown in Realist is necessarily correct. I have seen projects where some in a tract aid SFR, some said PUD. No matter if they are attached or not, it could show any of the 3 uses. At least in LA County. It's kind of a pita. m2:

 

[Joyce Potts]

The legal description conveys a lot, not a unit.

 

[Don Clark]

I recently performed an appraisal on a condo. It is in a gated community. Each building has 4 attached units and small lots. There are mandatory monthly HOA dues. Realist shows County Land Use: Condo. Universal Land Use: Condominium. The legal description on Realist reads exactly: Tract 8946 Lot 20 Tract 8946 Lot 20 and int in common area as per record and pursuant to Sec 2188.5 of revenue and taxation code.

Clients sent me an email stating unit is a PUD and should be on form 1004. I requested a copy of the title report. Legal description reads: Lot 20 of Tract No. 8946 in the city of Upland, County of San Bernardino as per Map recorded in Book 133 pages 68 and 69 of maps, in the office of the county recorder of said county.

Would you consider the unit an SFR in a PUD or a condo? Thanks for your feedback and input....

For the 3,500th time........a CONDO is a form of ownership, not an archtectural style. In many PUD's, and especially in my market, we have PUD's that have many types of archtectural styles such as single family detached, townhouses, attached and detached condo's. And, in many cases in the larger PUD's there are also commercial properties, fire stations, post office, etc.

Tell the client that it is a CONDO since that is the form of ownership and a PUD is a "Planned Unit development", not a type of real estate.

 

[Don Clark]

Legal Description citing LOT is your determining factor, IMO. The ownership includes the land underneath the improvement and not a partial, undivided interest. In my market, the actual legal description trumps the state land use in most cases.

Not in my market. Legal descriptions often refer to a lot, particularly if it is a detached condo. A condo is a form of ownership.