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Give and take: the common-interest community

On Behalf of | Aug 5, 2019 | Real Estate Transactions |

An experienced business law firm that offers full-fledged real estate services responds to widely varied client needs and concerns.

We duly note on our website at the established New Haven law firm of Berdon, Young & Margolis that our seasoned legal team works diligently on behalf of valued and diverse clients on wide-ranging matters. Those range from issues surrounding purchases, sales and financing to leasing, zoning, title searches and more.

For some clients, that “and more” designation applies to matters relevant to so-called “common interest development” formation and governance. Progressively more individuals and families in Connecticut and nationally are noting the upsides linked with planned living communities, which are increasing exponentially across the country.

One online article that outlines CID features and various arrangements notes an especially prominent lure of such communities for legions of prospective home buyers. Namely, that is the ability to enjoy select amenities “that otherwise might be too expensive for one individual household to acquire.”

A swimming pool is one such attraction. Others include well-considered landscaping, tennis courts, a community garden, onsite security and walking trails.

Those living features obviously come with a price, which is typically paid out monthly (sometimes quarterly) by way of a fee imposed on all residents.

Notably, that is not the only exaction that homeowners must deal with. Logically enough, homeowners association boards that routinely govern CIDs on behalf of all occupants mandate compliance with stated rules and procedures set forth in governing documents. Community regulations commonly cover matters relevant to noise, pets, unit/yard appearance and other living concerns.

It is certainly a good idea for any individual (or, additionally, business entity such as a project developer) having questions or concerns regarding a common-interest community to timely contact an experienced real estate legal team.