A collective ownership of property. Individual owners will typically own the airspace and what is inside of the walls but the structures, the land, and amenities built on the land are owned in conjunction with other members of the association.
An architectural style characterized by two-story buildings with a common wall or walls with neighboring units. The ownership is similar to a condo in that the property owner owns their unit and some interest in the common areas. Townhouse owners also typically have ownership of the physical structure and not solely the airspace as in a condo. However, many areas townhouse refers to the style of the home rather than form of ownership.
Planned Unit Development (PUD)
A planning and zoning term that describes a subdivision where the standard zoning classifications do not apply. The master developer with the consent of the local governing authority will establish criteria for the development of private and common areas specific to the subdivision. This includes street lighting designs, street width, architectural style, building height limit, land coverage ratios, common areas, and amenity designs. Planned Unit Developments are used to cluster homes closer together than would usually be permitted under local zoning laws. Unlike the case in condominium, the individual property owners have ownership of the land beneath their home.