Legal Definitions - horizontal-property act

A horizontal-property act is a law that governs the ownership and management of cooperatives and condominiums. It sets out the rights and responsibilities of owners, tenants, and management companies.

• In New York, the Condominium Act is a horizontal-property act that regulates the creation and operation of condominiums.
• In Florida, the Florida Cooperative Act is a horizontal-property act that governs the formation and management of cooperatives.

These examples illustrate how horizontal-property acts are specific to each state and can vary in their scope and requirements. They provide a legal framework for the operation of cooperatives and condominiums, ensuring that all parties involved are protected and held accountable.