What is the difference between a Planned Unit Development (PUD) and a condo?
In a PUD, townhouses are often built as part of a planned unit development that also includes single-family homes. In these developments, townhouse owners as well as single-family owners usually own the land under their units. A condo is a type of ownership whereby owners have title to their own individual unit in a multi-unit complex. The owner of a condo unit owns the interior space between the walls of the unit, and an undivided or joint interest in the common areas of the complex. With Planned Unit Developments and condos, financial responsibility for general expenses, the common areas, and external maintenance of the complex is assumed by all owners and is paid for by monthly homeowner association fees.
