Category: Q&A

Q&A Q&A: Refinancing and Board Rejection
2011 June Q&A: Refinancing and Board Rejection

Q Is it true that the board can deny a refinancing application and not give a reason? Does a reason need to be provided on request? —Inquisitive Owner A “Assuming that the proprietary lease for the particular coope…

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Q&A Q&A: Taking Action Against a Negligent Board
2011 May Q&A: Taking Action Against a Negligent Board

Q Our building is being run by family-based board members. The building is falling apart and there are apartments that have been sitting empty for more than 10 years. We have never seen a financial report. What can we do to change this? …

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Q&A Q&A: Unfair Dog Rules
2011 May Q&A: Unfair Dog Rules

Q “My husband and I are moving into a community that doesn't allow dogs. However there are people who do have dogs because they said that the law passed 12 years ago and people who had dogs then could keep their dogs and if their dog d…

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Q&A Q&A: Adding Relative's Names to Stock Certificate
2011 May Q&A: Adding Relative's Names to Stock Certificate

Q Recently shareholders have asked to have family names added to proprietary stock certificates (I was told to avoid estate “problems” in the future.) I balked (I'm on the board) stating the legal rights of ownership, and liabilities, t…

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Q&A Q&A: Collecting Interest From Maintenance Charge
2011 April Q&A: Collecting Interest From Maintenance Charge

Q Our cooperative building, for many years, carried a high mortgage. During those years, I did serve on the board. The interest on the mortgage was included in our monthly maintenance fee and was noted yearly for our share for IRS …

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Q&A Q&A: Can I Put Maintenance in Escrow?
2011 April Q&A: Can I Put Maintenance in Escrow?

Q I’m a co-op owner in Nassau County, where my elderly mother lives. I have written repeatedly to the management company regarding water leakage issues we have been having, but while the management company had a remediation expert e…

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Q&A Q&A: When a Shareholder Falls Ill
2011 April Q&A: When a Shareholder Falls Ill

Q My ex-[husband] owns his co-op but has become diagnosed as mentally incompetent after a stroke. He is in arrears on maintenance and the co-op is seeking to evict him. He will be homeless. Also if the co-op takes his apartment, wil…

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Q&A Q&A: Subletting vs. The Board
2011 March Q&A: Subletting vs. The Board

Q I am the owner of a one-bedroom apartment on the Upper West Side of Manhattan. I have a legal subtenant who filled out all forms and paid all the fees as described on the required two-year lease provided by the board, including that o…

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Q&A Q&A: Raising Our Rent?
2011 February Q&A: Raising Our Rent?

Q I live in Cobble Hill in Brooklyn and our building is going through non-eviction condo conversion. Can the landlord or sponsor raise our rent for major capital improvements even if the building converts, or does the sponsor pay the…

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