![]() ![]() ![]() There are a large number of laws in Edison, New Jersey that can affect condominiums and cooperatives, but few, if any, of them are unique to such common-interest communities. Laws and Regulations Concerning Common Interest Communities in Edison, New Jersey The individual units are rented by the residents, not purchased. ![]() In a cooperative community, the land and buildings in which the housing units are owned by a single corporation or association. The main difference is that, in condominium communities, the units are purchased and owned by their residents, and they also collectively own the common areas of the development. Merely viewing one of these communities from the outside (or inside) will not let you know whether it's a cooperative or condominium community. They typically meet this responsibility by paying a monthly fee to support this maintenance. The residents are responsible responsible for the maintenance of the common areas of their living areas, such as gardens, walkways, lawns, and swimming pools. They are communities where each individual or family resident rents or owns an unit which is part of a larger building, containing other, similar, residential units. Condominium and Cooperative Law in New JerseyĬooperatives and condominium developments are examples of arrangements identified as "common interest communities." ![]()
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