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What Am I? PUD, Townhome, Condo... how do I tell the difference?

There are many different types of condos and financing programs for them: the purpose of this blog: What Am I? PUD, Townhome, Condo... how do I tell the difference? Will help you understand what type of condo you may be interested in.
Condo: A condo regime is created by state or local law and is characterized by fee simple ownership of a unit, which is defined in the condo documents, together with common areas. The property interest in these areas is both common and undivided on the part of all owners, each of whom belong to the HOA that typically maintains the property and collects assessments or dues from each owner. (in English: you only own your unit, not the lot it’s on and you have an joint interest in all the common areas with the other owners)
Site Condo: A single family totally detached dwelling (no shared garages or any other attached buildings) encumbered by a declaration of condominium covenants or condominium form of ownership. (In English: you own the lot under the unit as well as the unit – no shared walls of any kind)
PUD: A PUD is defined as a mixed-use residential development of single-family dwellings ... more

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