Pud Or Not

[Cornelius]

There are restrictive covenants but no HOA fees. The Title says there is a PUD endorsement.
What truly constitutes if a property is in a PUD? This is a very small, four street subdivision of homogenous homes with no community amenities and no HOA fees? Just because of the restrictive covenants and endorsement on the title does that make it a PUD?

 

[CindyR]

The authority to record Lien Supported Assessments

 

[Cornelius]

I found this. Thanks. Not a PUD according to Fannie

 

[Walter Kirk]

It is probably a Planned Unit Development but not a PUD as Fannie defines it

 

[Restrain]

Short answer: is there a HOA with mandatory HOA fees. If yes,it is a PUD per Fannie. If restrictive covenants but no MANDATORY fees, NOT a PUD.

 

[Meandering]

There are restrictive covenants but no HOA fees. The Title says there is a PUD endorsement.
What truly constitutes if a property is in a PUD? This is a very small, four street subdivision of homogenous homes with no community amenities and no HOA fees? Just because of the restrictive covenants and endorsement on the title does that make it a PUD?

If the Roads are common property, it is a PUD even if there are no dues being paid. Dues can be ordered to be paid at anytime.

You need to go back to the subdivision paperwork.

If there are endorsements to the title, I would say it most likely is a PUD that does not have an HOA and lacks mandatory dues.
.