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".