Planned Unit Development (PUD)

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Characteristics of a PUD

 

•Owners have fee simple interest in the unit in which they live and have interest in common areas tenants in common.
•Common areas such as green zones, entry, pool, clubhouse, tennis courts, etc. are usual.
•A mandatory maintenance fee may be assessed on each homeowner
•The PUD is administered by a homeowners' association

 

A PUD is called a "Planned Unit Development" by most.  The FHA 4150.2 manual calls it a "Planned Urban Development".

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