Condominium Bylaws Condo With Lazy River In Philadelphia
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The Pennsylvania General Assembly enacted Act 115, which amends Title 68 of the Pennsylvania Consolidated Statutes and impacts the governance of homeowners associations (also known as planned communities), inium associations and cooperatives in the Commonwealth.
In a inium, the common facilities are owned directly by the unit owners as an interest appurtenant to the units. In a planned community, the common facilities are owned by the association, and each unit owner has a membership interest in that association because they hold the title to their unit.
Iniums in Pennsylvania are governed by the Uniform inium Act, 68 Pa. Stat. §§ 3101 to 3414 (the “UCA”). Although “inium” is a term generally used to refer to an individually-owed unit, it is also a form of ownership where property other than the individual unit is deemed to be common property.
Pennsylvania Uniform inium Act C.S. §§ 3101 to. 3414) was adopted in 1980 to govern the formation and operation of iniums. Prior to the UCA, iniums in Pennsylvania were governed by the since-repealed Unit Property Act. By definition, a inium is a form of real estate ownership.
In Pennsylvania, homeowner associations (HOAs) are governed by specific state laws to maintain order and regulate affairs within planned communities. These regulations are primarily outlined in the Uniform Planned Community Act (UPCA), codified in Title 68, Chapters 51-54 of the Pennsylvania statutes.
Philadelphia's unique combination of historical charm, economic diversity, and affordable opportunities positions it as an excellent destination for real estate investment.
Condos can be a good first home option in a city like Philly. Just be sure to factor in HOA fees and rules. Get the condo docs and have a real estate lawyer review them. That way you know what you're getting into. At 25, the ability to build equity is a plus over renting.
Condo is due to what, precisely, a unit owner owns. Condo owners only own the interior of their unit (as well as a portion of the shared area). But that's not the case for town homes. “A townhome owner has control of the interior, exterior and land it sits on,” Brown says.
