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Law & Legislation
Associations Can "Reasonably" Restrict Rights
Are homeowner association's governmental or quasi-governmental entities? Until last year, most attorneys who practice community association law would have said the answer was clearly, and appropriately, no. But a New Jersey appeals court called that long-standing assumption into question when it decided that a community association, in fact, plays the role of a municipal government, and its rules and regulations must, therefore, pass constitutional muster. Read More
Questions Boards Should Ask
Most people living in a co-op or condominium building don’t have much experience with managing major construction projects. They may have skills that can be very helpful to their board—such as financial acumen, to name just one—but not construction experience. If the building is lucky, there may be one person on the board who has some familiarity with the process of working with contractors and others on a major renovation. Sometimes there is actually a contractor or an architect on the board, but that’s fairly rare. Read More
The Cooperator Hosts Legal Issues Roundtable
The Cooperator headquarters in Midtown Manhattan again
played host to a group of real estate industry professionals gathered to
discuss their strategies and challenges, trade anecdotes (both the positive
and not-so-positive), and meet their colleagues over breakfast. This time,
the assembled group was composed of legal professionals specializing in
co-op and condominium law and recent changes to the 80/20 rule provided
some interesting food for thought. Read More
Budgeting for New York City's Future
Mayor Michael R. Bloomberg announced his $59.0 billion budget plan for Fiscal Year 2008 and presented his updated four-year financial plan for New York City. In preparation for a possible economic slowdown, the mayor's proposal focuses on long-term planning that will help meet budget gaps through FY 2010, and new initiatives to maintain and advance the city's financial health. Read More
Understanding Apartment/Home Tax Inequity
The old saying goes that the only two sure things in life are death and taxes. According to the experts, for owners of co-ops and condos in New York City, there's a third inevitability: you're going to be taxed at a higher rate than owners of single-family homes. Read More
City Council Speaker Christine Quinn
You would think that trying to get to know the city's first female Speaker, Christine Quinn, would be difficult when you've only been granted ten minutes in the demanding politician's day. However, in such a short timeframe, Quinn has enough time to come across as focused, passionate, confident and proud of her achievements since taking office in January 2006. She also readily admits and recognizes the challenges that she still faces, especially on the topic of affordable housing. Read More
Drawbacks of the Boom
In case you haven’t noticed, there is currently a building boom taking place in New York City. With so many scaffolds and cranes dotting the skyline, it seems like everyone wants to get into the real estate game and be a developer. Read More
Co-op and Condo-Related Legislation
Legislatures are in session, both in the city and in Albany, and, as always, housing is a hot issue. What bills should co-op and condo board members, managers and owners be looking at that may impact their residences? Read More
Lien on Me
Unfortunately, it is not uncommon for persons who perform labor on or furnish materials to the common elements of a condominium to assert that they have not been fully paid for the labor performed or materials supplied. The possible assertion of such claims dictates that condominium board members and other interested parties understand what legal remedies may be available to aggrieved persons in such circumstances. The basic principle under the laws of the state of New York is that while laborers and materialmen are not permitted to file a mechanic's lien against condominium common elements, they are entitled to substitute protection as beneficiaries of a statutorily created trust. Read More
Avoiding Legal Nightmares
We all have nightmares. Whether it's hungry sharks nipping at our feet or shadowy figures lurking in the woods, there will always be things that wake us in the middle of the night. If you're a co-op or condo owner, manager or board member, your nightmares may be a bit more specific; perhaps they involve feuding board members, or contractors gone awry, or worst of all, a tangled web of litigation that gets more snarled the more you try to free yourself. Read More
