Home Buying in 08873>Question Details

Dee, Home Buyer in 08873

do you own the exterior of the PUD or is it just the land?

Asked by Dee, 08873 Mon Nov 21, 2011

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4
Elise Timpe’s answer
Who is responsible for maintenance depends on the PUD. Check with the homeowners association. Some cover roof, termite, garage doors and painting, others include none or some of these things. This is more practical information than the technicalities of ownership, which are blurred by these differences.
0 votes Thank Flag Link Thu Apr 12, 2012
A planned unit development in NJ is the same as owning a single family home. You own the lot and buildings on it. However, homeowners associations may have rules and regulations regarding what you do to the outside of the home itself or the lot.
0 votes Thank Flag Link Tue Nov 22, 2011
Ron, If the property is fee simple you have the highest form of home ownership. That means you own the land. It would be wise to obtain a copy of the initial public offering statement, ByLaws and/or rules and regulations. Many Somerset HOAs cover exterior maintenance and common grounds in the monthly fee. Window replacement might not be covered. I hope this helps. You should also seek legal advice.-
0 votes Thank Flag Link Mon Nov 21, 2011
It depends:
Some HOA are built with the total building belonging to the Homeowner.
On some, the HOS owns the roofs
On some, the HOA owns the exterior walls,
On most, the HOD owns all the land.

You need to investigate what you are getting for the money,
and what the CCRs are:
It can make all the difference in the world.

Good luck and may God bless
0 votes Thank Flag Link Mon Nov 21, 2011
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