PUD owners have these two types of ownership:
Question
PUD owners have these two types of ownership:
Solution
PUD (Planned Unit Development) owners typically have two types of ownership:
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Individual Ownership: This is where the owner has full rights to their specific unit. They are responsible for the maintenance and upkeep of their own unit. This includes both the interior and exterior of the unit.
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Common Ownership: This is where all the owners in the PUD collectively own the common areas such as parks, swimming pools, gyms, and other amenities. The cost for maintaining these common areas is usually shared among all the owners, often through homeowners association (HOA) fees.
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