What type of ownership allows a property owner to have common interests in recreation areas and other community features?

Planned Unit Development (PUD) is a type of ownership that allows individuals to have common interests in shared amenities and recreational areas within a community. In a PUD, residents own their individual homes while also having an interest in the communal spaces, which typically include parks, pools, and clubhouses. This type of ownership encourages a sense of community and shared responsibility among residents for maintaining and utilizing these common areas.

The unique structure of a PUD often includes a homeowners association (HOA) that manages and oversees the maintenance of the community's common features. This fosters a collective commitment to the aesthetic and functional upkeep of the shared resources, giving residents both individual rights to their properties and collective ownership of communal amenities.

Other options present different structures of ownership: condominium ownership involves individual ownership of units with shared interest in common areas but does not imply the same level of community planning as a PUD; cooperative ownership involves owning shares in a corporation that owns the property but does not specifically create communal recreational features as a primary focus; time-share ownership refers to shared use of a property for specific time periods and does not entail common interests in community areas in the same way as a PUD.