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Planned Unit Development (Pud)
planned unit development (pud)
- a development that is planned, and constructed as one entity. Generally, there are common features in the homes or lots governed by covenants attached to the deed. Most planned developments have common land and facilities owned and managed by the owner's or neighborhood association. Homeowners usually are required to participate in the association via a payment of annual dues.
Source: U.S. Department of Housing and Urban Development