Q. This is a very common age-old question in a cooperative. What are my rights for inheriting a co-op apartment if the unit owner unfortunately dies? If a unit owner is deceased and the property is turned over to the estate, what are righ…
When co-op and condo owners plan their will, or a prenuptial agreement, their condo or co-op unit naturally comes into play as an important asset. Often, it’s no problem—the owner leaves the apartment to his or her spouse. It’s especiall…
Q I own a co-op apartment in the West Village and my girlfriend owns a house in Bucks County, PA, but works in New York City. We both want to enter into a mutual "living estate" will where either of us will have the right to live in …
Q “If a unit owner is deceased, what are the inheritance rights of a relative, for example, let's say, siblings, to moving in and taking possession of an apartment?” —Legal Legacy A “There are several iss…
Q Our condominium board of managers is planning to replace all the terraces in our condo, claiming they are common elements. Is that correct, or is each terrace the property of the unit owner? Should all the unit owners be assessed or onl…
In this world, nothing is a certainty but death and taxes. So how does a co-op or condo owner prepare for the certainty of death, as it relates to ownership interest and protect the asset for inheritance and possession purposes? Likewise, h…
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 asserti…
Most of us don’t like to spend a lot of time contemplating our so-called “final wishes”—we’d much rather leave planning our wills and executing our estates for another day. Uncomfortable as the subject is for many people however, it’s …