The majority of co-op and condo residents pay their monthly maintenance fees on time and in full with no problem. The recent recession, however, changed the picture drastically for residents who found themselves laid off, under-employed, or…
Condo and co-op communities are governed by an array of legal mechanisms, including state and local laws and the community's own governing documents. Governing documents such as the proprietary lease, condo declaration, bylaws, and house r…
My grandmother purchased shares from a HDFC co-op in 1995 for $250. When she passed away, the president of the board explained that since there was no notarized letter signed by her willing the apartment to someone that the family had lost …
Most New York residents—and certainly most New York attorneys are aware of the Warranty of Habitability. Few may know that its origins are statutory, and fewer still care that it contradicts common law, but most would be surprised by the t…
The foundation of any properly run condo association or co-op building rests on residents paying their monthly maintenance fees on time and in full, with no delays or delinquencies. However, in the wake of the recession, with many shar…
Q I own a co-op in Mount Vernon, New York. I was unable to sell the co-op so the board approved a sub-lease. The maintenance was in arrears by one month plus the current month. I was sent a letter by an attorney to pay the arrears plus t…
When the bank took back a Harlem condominium, the rest of the building's residents were stuck with years of unpaid arrears by the former resident. “There was a tremendous amount of arrears from about three or four years already accruing…
While for many laypeople cooperatives and condominiums are essentially interchangeable, from the legal point of view they are radically different institutions. Much of this difference can be attributed to history. Co-ops have …
Following the nationwide mortgage crisis, there is a lot of concern across the country about communities being faced with the prospect of foreclosure. Many states have enacted legislation relating to how to handle properties in arrears…
Consider the following all-too-common scenario: your condominium association has one delinquent unit owner who owes three months of common charges totaling $915.00 before late fees. Statements have been sent without response, and telep…