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Condo or PUD/SFR?

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In this situation if it does not have condo in the legal and it has a specific site size, then I would put it on the 1004 and state it's a PUD. It's just an attached unit on the 1004.

IMHO.
 
Don Clark said:
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.
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Don, I realize Condo is a form of ownership. My dilemma was that one legal description noted 'int in common area', whereas the legal description provided on title did not. Wouldn't 'int in common area' indicate condo ownership?
 
Nancy Heiss said:
Don, I realize Condo is a form of ownership. My dilemma was that one legal description noted 'int in common area', whereas the legal description provided on title did not. Wouldn't 'int in common area' indicate condo ownership?
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Not necessarily. I own a townhouse in a 15 unit complex in Kitty Hawk, NC that has common areas, a single roof over 2 sections of townhouses, a pool, and the unit owners own the land underneath the footprint which does not include the front and rear steps. It is almost always confused with a Condo, even sometimes by the Town of Kitty Hawk. But, it is not a Condo. It is a PUD for appraisal purposes since it has a mandatory fee. Oh, and by the way, i am president of the HOA.
 
Nancy Heiss said:
No, it wasn't that one, but thank you Mike!
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PUDS can include: detached, attached, SFR AND/OR SFR CONDO units; some may also include commercial and/or industrial park properties. Typically they all have "interest in common" when commonly-owned elements exist.

Which Development is your subject in?
 
Nancy, I haven't done an appraisal in that county in many years. I pulled the plat and noticed that the common areas are labeled, and the project lot dimensions are labeled. The individual units have no dimensions. In my personal experience, this is usually, (but not always), indicative of condominium ownership. Typically, if the lots are actually individually owned, the map will indicate dimensions. Have you obtained a copy of the CC&Rs? Reading that should be telling. Also, have you confirmed whether or not the legal description you noted is abbreviated or full?
 
These discussions are a nice reminder that things are very different in different places and guidelines like whether it is a lot or a unit may be meaningless in other areas. Here in AZ we have puds that are assigned unit numbers and condos that are assigned lot numbers. These distinctions mean nothing.

In AZ the determining factor is the specific language in the legal description specifying a "Declaration of Condominium" or a "Declaration of Horizontal Property Regime".

Similarly, an interest in the common areas is included in many PUD projects but that does not make them condominiums in any way.
 
If the property is located in Orange County, CA and the APN starts with a "900" number, it's a condo.

Site Condominiums are condominium projects that meet ALL of the following requirements:
-Units are encumbered by a condominium declaration/covenant or condominium form of ownership.
-Units are single-family and completely detached from each other. This includes garages, archways,breezeways/porches/decks or any other attached buildings.
-A condominium unit consists of the entire structure, site and air space and no part of the structure is considered to be common areas or limited common areas (see Note below).
-Insurance and maintenance costs fall solely on the unit owner.
-Any common assessments collected are for amenities that are outside of the footprint of the individual units.
 
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