Category: Q&A

Accessing a Building's Financial Records Q “I live in a co-op on Long Island and I ran for a board position this year. The current board and resident manager spread some vicious rumors about me to keep me off the board. I’m very con…

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 …

Q I am trying to sell my co-op, and the board has expressed they will not approve a purchase under $145,000.The market comps are $140,000 (high end) $120,000 (low end), and I sold mine for $136,000. We have a viable purchaser who has alre…

I would like to establish a revocable living trust and place my co-op apartment in the trust. This will avoid probate for my heirs. My co-op board is unwilling to agree to my request. I have not been given a reason for this. How can I convi…

Valuable paintings will be hung in our newly renovated lobby which is a common area of our co-op building. What if they are stolen or damaged? The owner who has loaned them has personal insurance but since the paintings are in our common ar…

Q I've heard a lot about the STAR abatement and other tax breaks for apartment owners, but I'm confused as to who gets what, and how those refunds are distributed among residents in multifamily buildings. Could you please clarify the most…

Q I have a few questions that I would like to post: 1) Is it true that the board can deny my refinancing application and not provide a reason? What are my rights? How can I fight this? 2) Can the board sue me for writing an open letter to…

My association's documents say that the board must consist of five total members. This past election, only four people ran and got elected. Does the new board then have to appoint another member? If they choose not to for some reason, can a…

Q Who owns the handicapped parking spaces set aside in the parking facility of a newly constructed condominium? —Keeping it Accessible in Kings County A “Sponsors of newly constructed condominiums are responsible for creating th…

My association's documents say that the board must consist of five total members. This past election, only four people ran and got elected. Does the new board then have to appoint another member? If they choose not to for some reason—can an…