What is a conservation easement? What are the tax advantages to a conservation easement? Can a condo or co-op vote to place a conservation easement? —Curious in New York “An easement is a transfer of usage rights. Simply…
We are an 11-unit condo. association. In May 2006 two board members decided to remove our 19-year-old mature beautiful shrubs (azaleas & rhododendrons) from in front of our units. They promised to replace them by September 2006. It has not…
I manage a small Mitchell-Lama co-op. Our local grocery store, which has served as an important resource for our senior residents who can’t go too far, is closing down. We were wondering what we would have to do to set up a little store i…
Some shareholders of our cooperative wish to record board meetings as the minutes do not always accurately reflect what was said during open sessions of board meetings. One of 12 board members objected to the taping of a recent session a…
Q I am living in a condo whereby I am enduring loud noise by two rude neighbors. I had to hire my own private lawyer. The condo board has their own lawyer and their lawyer responded to my lawyer. I recently received a bill from the cond…
Q How do we start a reserve fund? Where does the money come from? What can we or can’t we use the money for? Must we get approval from shareholders/owners in order to spend the reserve fund? —Building Board Member A “…
Q How many years can a person serve on a board? Is there a way to limit the number of years someone may serve? —Curious Board Member A “In the majority of residential cooperative and condominium buildings there…
Q In years past, unit owners were given copies of the minutes of the annual meeting. A new management company was engaged and this practice stopped. Now, when I have requested the minutes of the annual meeting, I have been told that …
Q I live in a condominium and we just had our annual election. Each year, new people run for the board, but the existing board members solicit proxies in order to remain on the board. As a result, five “old-timers” seem to make all the …
Q I am a shareholder at a 49-unit co-op in Manhattan. For the past five years we’ve had a vacant unit on the third floor as a result of excessive noise emanating from the apartment above. The past and present boards have not initiated an…