Condo or a PUD?!

[DWiley]

What the heck is a 'horizontal property regime'?

What is a Horizontal Property Regime? | HOA Definitions

A Horizontal Property Regime (HPR) is a zoning policy which essentially allows for two new houses to be built on a piece of land that was previously zoned for just one house.

spectrumam.com

 

[Tom D]

i remember when the condo concept was invented. no one in this city understood them including the document makers. at the beginning condos & puds & de minimis puds were not understood and were mixed up on their official paperwork.
the problem you have is what the title company, or lender, thinks it is. can be frustrating, but an explanation somewhere on the appraisal will protect you, however you go. plus the lender's request in your work file. your only other option is to give it back, if your concern is that great.

 

[NJAPRAZE]

I was under the impression that having a lot and a legal referring to said lot was a slam dunk in knowing the difference between a townhome style home being either PUD or a Condo ownership. However!! Have one on my desk that has a lot and legal with a lot number stated, and has a master deed referring to the property as a "Horizontal Property Regime" and through out the Articles refers to the development as "this Condominium" and ""Cause of action or asset of the Condominium or the Association".

Does the document prove as a condo, or does the site and legal prove as a PUD...or can both be true somehow?! Appreciate the feedback and knowledge

check w/prop mgr!! we're not legal experts...
if they have no interest in their site... slam-dunk- > easily identified as a condo!

if they have a site - can be PUD and/or condo; I've had a few cases in recent years (either new construction or +55 communities) with ownership structures that had nuances (i.e. part of a larger mixed use development with varying styles / uses, etc.) -> ultimately, have to determine who owns what / who is responsible for what [re: buildings/dwellings & COMMON AREAS] -> it's the ownership that should ultimately drive your determination

A PUD [with a "master" assoc] may contain varying prop types/sections (one for condos, one for SFRs, or several "subdivs" within... of a single or multi prop types); PUD can also be of a single prop type [i.e. SFRs] w/an interest in community common elements (water rentention basins, sport court, etc.)

All about OWNERSHIP / bundle of rights! [shared interest vs common/indiv interest]