Q In our Queens co-op (containing 68 apartments) we do not allow laundry washing machines. A few owners have had them from years back, others have recently renovated and installed washing machines in their apartments. This cau…
Q Our building is 75 percent shareholders, 25 percent sponsor units (renters). The sponsor units fall under the Emergency Tenant Protection Act (ETPA) of 1974. My question is, doesn’t everyone in the building, shareholders and sponsor u…
Q I would like to know if the board has the right to alter minutes given to the shareholders, because there were questions raised at meetings that they would not answer and are left out of the minutes. Are there any regulations governin…
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…
Q I am the president of a co-op board in Gramercy Park. One of our directors has recently become a licensed salesperson. When announcing this to the board, he indicated that he would recuse himself going forward from interviewing any …
Q My co-op is about to engage in a multi-million dollar upgrade energy project. The board president has decided to not let myself (a newly elected member of the board) and any shareholder access to review the documents on this project. …
Q I am the vice president of a board in a 10-unit co-op located in Queens with an unoccupied residential basement apartment that was originally a live-in super’s apartment. We, the board, are exploring the possibility of renovating it an…
Q Should a real estate developer be involved in construction projects in his or her building or is it more feasible to let an independent general contractor with no ties to the developer do the actual construction works? —Cu…
Q My co-op is about to engage in a multi-million dollar energy upgrade project. The board president has decided to not allow me—a newly elected member of the board— and any shareholders access to review the documents on this project. How…
Q If a building decides to adopt a transfer tax, can they impose a tax when an apartment is sold to an outsider but exempt from the tax when selling to an insider? The apartments that have been combined with other apartments, (three …