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…
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 …
Planning for what happens to your estate upon your death is never a pleasant chore, but if you own property of any kind, that planning is an vital responsibility. While there are many aspects and legal mechanisms that can be considered…
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 …
Q For many seniors living in co-ops and condos, the viability of placing their owned units into revocable or irrevocable trusts has become an area of interest. The major problem with this is that boards and managing agents are re…