Category: Q&A

Q “We live in a condominium development of 130 units. One investor own 48 of these units. He’s taken two seats on the board since 1986. No one votes for him, I suspect he always votes for himself and gets on the board. Can this be possibl…

“If I want to buy a co-op do I have a right to see the board meeting minutes so that I might see if any major repairs have been recently completed on the building or are scheduled to begin.” —Buyer Beware “The simple answer is NO!”…

Q “I have requested to see financial statements, general detail ledger reports and the current cooperative budget. The board and its attorney claim that I have no right to see these documents. Are they correct?” —Fiscally Concerned …

Q Can original co-op owners' rights to sublet their apartment be changed by a board resolution which refers to the BCL Section 501(c)? It seems that the appellate division of the Supreme Court of New York has ruled that section 501 (c) pr…

My stove failed to work. I called in the maintenance person in my building. He said that the shut off valve is useless. He will have to turn off the gas elsewhere. I bought a new stove from P.C. Richards. The technician told me that the pre…

Q On the stock certificate for our co-op, it just lists “John & Jane Smith.” Does that mean we own it “tenants by entirety” or “tenants in common?” If we want “tenants by entirety,” do we need to have it re-issued to state so? —Stockin…

Q My family is a shareholder of one of eight apartments in a small Brooklyn co-op. The apartment directly above ours was sublet to a family in 1997 that signed an agreement specified by the board of directors requiring the apartment to ha…

What happens when there is no quorum at a shareholders meeting and therefore there is no election for new board members? The same board has remained in my co-op for many, many years without a chance for us to vote them out. Isn't there a la…

My son-in-law inherited his father's co-op in Manhattan. For two years he's been paying the upkeep charges without being able to live there, yet has been refused "ownership" by the co-op board. He has a considerable amount of cash available…

Q Can a non-owner's spouse remain in a co-op apartment when the shareholder spouse vacates the marital residence but the parties remain husband and wife? —In Name Only A “The short answer to this inquiry is that it depends upon …