David Reecher: What is a Planned Unit Development?

David Reecher of eXp Realty is a respected real estate professional in Maryland who understands what it takes to sell homes fast for the best price possible. He shares that a Planned Unit Development, or PUD, is a type of residential development where the homes are usually grouped together on lots that are smaller than typical and where there are large and open park like areas within the development.

Ownership is in fee simple, which is like most other residential homes that people are familiar with. The common areas that are within the development are owned jointly by all the residents, so if there were 50 homes then each owner would have 1/50th ownership. Another feature is that the land beneath the home is also included in the ownership of the property.