My son-in-law inherited his father's co-op in Manhattan. For two years he's been paying the upkeep charges without being able to live there, yet has been refused "ownership" by the co-op board. He has a considerable amount of cash available…
Q I am a board member and shareholder in a Westchester County cooperative where there has recently been a lot of conflicts among board members. There is a board member who owns her own realty company and is now privy to all confidentia…
Q My wife and I own the shares for our co-op apartment jointly. We wish to establish a revocable living trust for our assets and the apartment. Our co-op board is unwilling to make the transfer to the trust. How can we convince the boar…
Q I am a shareholder in a Westchester County 73-unit cooperative, two of which are commercial units generating approximately two percent of the co-op’s income. The president of our five-member board of directors has been president for o…
On March 31st, 2008, the Supreme Court of New York County rendered a decision illustrating the importance for cooperatives and condominiums of documenting board and owner action properly. As cooperatives and condominiums age, the proper …
Q For estate planning purposes, my wife is the sole owner of our co-op. A recent change to the New York State law permits assets to be transferred on death by use of a “Transfer on Death” designation. Like a trust, this avoids probat…