What does the term "common interest community" refer to in Delaware law?

The term "common interest community" in Delaware law specifically refers to a residential development where homeowners have shared interests in common areas, amenities, and facilities. This concept encompasses housing communities such as condominiums, cooperatives, and planned unit developments where residents collectively share ownership and responsibility for certain elements of the property, like swimming pools, landscaping, and recreational spaces.

In these communities, the homeowners typically pay fees or dues that contribute to the maintenance and operation of shared facilities and the overall community. The governance of these communities is often managed by an association made up of the residents, which establishes rules and regulations for community living. This is crucial in maintaining a harmonious living environment and upholding property values within the community.

While the other options mention various types of properties or facilities, they do not capture the essence of what a common interest community entails, which is centered on residential living arrangements characterized by shared responsibilities and communal interests.