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Stock Certificate - Karen Sherlock Jan 08, 2022

My husband passed away. I would like to add my daughter's name to the stock certificate. My daughter lives in our apt and if anything happens to me I would like her to be able to keep the apt. I've been told she has to go before the Co-op Board for approval. She has 2 part time jobs and does not work full-time, but has money in the savings account. Is there a way to get her name on the stock certificate? I don't want her thrown out! I've lived her for 53 years! Thank you.

> Join the conversation Comments (3)

Sorry that your husband passed away what you want to do is not uncommon.
If you know the President of the board ask what you're Coop or Condo requires, I can tell you what my Coop does but each one has different procedures.
You can also check your By-Laws to see if they have what you need to know and what to do.
Your daughter might not have to appear before the board, they most likely all know her.
Since it's Sunday you can call your managing agent they may have a copy of the application or it maybe on their website.
Best of luck


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> Join the conversation Comments (1)

Hello
Can you put that in a will that your apt goes to your daughter and she would be the executive your your will. Also can you gift it to her beforehand?

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You should be able to find the answers to most of your questions in your Proprietary Lease. In the PL for my co-op, paragraph 16(b) states

"16(b) If the Lessee shall die, consent shall not be unreasonably withheld or delayed to an assignment of the lease and shares to a financially responsible member of the Lessee’s family (other than the Lessee’s spouse as to whom no consent is required)."

The key here w/r/t your daughter is the term "unreasonably withheld". Under most circumstances when a person dies, the family member inheriting the co-op is an adult with a sufficient and stable source of income and/or assets. The reason your daughter will probably need to submit a financial package is to make sure she will be able to afford the co-op's maintenance and mortgage payments if there are any. The board wants to avoid the complicated and expensive eviction process if your daughter is chronically delinquent with her maintenance payments.

As PC#1 stated, the best way to make sure there are no succession issues and to get your daughter's name on the stock certificate is an informal conversation with the board president. He'll most likely tell you what could interfere with adding your daughter. If there are any issues, resolving them will make it a quick and simple process.

In a situation like this where the person you want to add is not your spouse (and I am very sorry for your loss) a consult with an attorney who specializes in co-op law will be money well spent.

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> Join the conversation Comments (1)

Beware. If you give ownership now, and not when you pass away, then she will have to pay a possibly large capital gains when she sells. For an individual 250 k is exempt but over and above that = beware.
maybe you can just add her name to the lease now.
find a smart lawyer.

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Condolences to you regarding your husband. If she has been living there for years I'm sure the neighbors know her as one person here posted and she most likely would not have an issue staying there. That next to her income and being able to pay the taxes,maintenance fees per month would be the boards only concern. Most co-ops don't want a person who would be a problem to them. I named my daughter as beneficiary on my paperwork with the co-op, but ever co-op works differently with that scenario. You may look into that and see if its doable? Best of luck!

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By-Laws - Andre Jan 08, 2022

If the By-laws requires that any notice of resignation of a director must be given in person or by registered or certified mail can a notice of resignation sent by email be valid or not?

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Sponsor apt question - DM Jan 07, 2022

In our case, it is not pre-existing in teh specific apt where a rent-controlled tenant just passed away. The current sponsor/owner (an investor who bought it from the original sponsor) hopes to install a WD before the sale of the apt.Our building prohibits new ones: Can they do this?

I also cannot make sense of the below from a recent article on sponsor apts...?

"No grandfather clause. Sponsors do not need board approval for renovations, so a sponsor-owned apartment might have a washer/dryer in a building that forbids shareholders from installing them. In such cases, says Karen Sonn, a closing attorney with Sonn Associates, “the board will not grandfather that washer/dryer to the next buyer.” Sonn adds that the building’s alteration package or sales package may require the incoming buyer to do upgrades to the electric panel, windows or radiators.

> Join the conversation Comments (1)

I doubt I am wrong, but while the sponsor may not have to get Board approval for renovations but they do/should have to abide by the renovation rules and policies.

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Real Estate Property law - legal fees coop - DM Jan 07, 2022

§ 234-a. Unauthorized legal fees. An owner, lessor or agent thereof
shall be prohibited from assessing a lessee any fee, surcharge or other
charges for legal services in connection with the operation or rental of
a residential unit unless the owner, lessor or agent has the legal
authority to do so pursuant to a court order. Legal services include,
but are not limited to, court fees, legal representation, attorney fees,
notary public charges, and administrative fees incurred by the owner,
lessor or agent in connection with the management of the building, including
actions and proceedings in a court of law. Any agreement or assessment
to the contrary shall be void as contrary to public policy.

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How to get impoper legal fees removed from your coop maintenance statement - DM Jan 04, 2022

I am told one way to do it is to write "in protest" on your check and then take the coop to small claims court
when they have cashed it.
Has anyone tried this or what have you heard?

(Of course, you should protest it in writing to teh coop first.'They can not put legal fees on your bill
unless there is a court order/ they prevailed in court. Such charges are unenforcable.)

> Join the conversation Comments (2)

I'm not trying to sound snarky, but are you sure the fees are *legally* not allowed? The Business Judgment Rule gives co-op boards a lot of leeway in imposing fees.

Unless an attorney actually told you to write "in protest" on your check, legally you might be doing yourself more harm than good. It doesn't sound as if writing "in protest" by itself will get the fees removed. If you withhold any part of your maintenance, at some point you could find yourself a party to an eviction suit.

I am not an attorney, but I have a lot of respect for the intricacies of the law and the administrative codes.

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Steve - To clarify, many leases do not allow for the imposition of legal fees unless there is an actual default and a court determination.
This is to protect shareholders. If you have a bad or spiteful board they could otherwise abuse the situation.

Does anyone out there know the answer to the small claims option? - and, yes , writing 'in protest' on a check is a real thing.

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> Join the conversation Comments (1)

Steve,
1) You write in protest" on the check.
2) They cash it.
3) You then take them to small claims court to get the money back.
Yes, this was originally advised by an attorney.

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Coop renovation - dan Nov 19, 2021

Hi all, looking for a bit of direction here. I am planning to do some renovations to my recently purchased coop. My architect indicates that the DOB provided a form that building management should complete and return, however building management says it is not the correct form. Just from looking at the form, (DHCR, relating to rent controlled units), it appears to be something that the building would complete if they were doing the renovations. However I’m a single shareholder, so I’m not sure that it should apply to me. I’ve tried DOB but not having much success there, so I’m hoping that someone on this forum might be able to provide some direction.

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Hi, I believe the NYC DOB form you need is the PW1. Section 26A of that form is for co-op signature, where the co-op attests that they have reviewed and approved the proposed project. In order for the co-op to evaluate the project, you should be prepared to submit plans, references, licenses, budgets, tenant protection plans, covid safety plans, etc. -- whatever materials the co-op needs to feel comfortable with your proposed alteration in order to sign the PW1. That said, based on what you wrote, you may wish to reconsider your architect. Co-op renovations are unique given that shareholders do not own their walls or inside them (check your lease), and technically do not even own their units (instead, own shares in the co-op). An architect who does not understand this (apparently yours does not, based on the forms given to date) may not be sufficiently knowledgeable about co-op alterations to successfully complete the project.

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> Join the conversation Comments (1)

I would back up "Christine E Nov 22, 2021" point that if the architect cannot provide you with the correct form seek another architect. Heed the Warning. The second concern and question is why wasn't your building management company able to tell you what the form is or provide you with the form? That is your second warning that this may not go as smoothly as you hope. The architect should know all about NYC and the Coop requirements. At this point sounds to me as though you are chasing after the architect and management and you should not be. Take a look at your contract with the architect, it should say that the Architect is responsible for submitting all the required paperwork to NYC and the management company. Talk to other Architects, doesn't seem like the one you have is alert.

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Board president wants all owners to vote on building issues - Elisa Nov 16, 2021

I live in a small condo. Several years ago there was a large assessment and many owners were upset at the cost. The Board President now wants all financial decisions to be voted on and approved by all owners. However, our By Laws state that financial decisions are the responsibility of the Board. How can I convince the Board President that we must restrict these decisions to Board members? Otherwise, we will never have another maintenance increase or assessment approved and the building will decay. As it is, it's been several years since we had a maintenance increase and we have been financing repairs through our reserve fund and of course the reserves are now much lower than before.

> Join the conversation Comments (2)

How do the other board members feel about the president's odd position? Assuming the president is in the minority, that's the end of the matter. If a majority of the board has voted to raise maintenance or impose an assessment, the president has no override power.

If a majority of the board feels the same way, then it's trickier. At least in our Proprietary Lease (we're a coop), maintenance is "as determined by the Board of Directors." This grants power to the board to make the decision on its own, as is customary. However, I don't read this as a *prohibition* of using a shareholder vote to make the determination. I do agree it's a bad idea that abrogates one of the primary responsibilities of being a board member.

On the other hand, I'm not a lawyer, so you may want to consult one.

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Have your co-op attorney, accountant, and/or managing agent talk to the board president to explain the need for a maintenance increase each year, and why not raising maintenance is a really *bad* idea. Maybe the president will listen to professionals.

If your president is intransient and still wants a shareholder vote, have your professionals attend the next shareholder meeting to give the same presentation. This may sway enough votes to get an increase passed.

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> Join the conversation Comments (1)

Why do you feel Steven424 that the maintenance has to be raised every year.
Money can be raised by raising all amenities and sales of the apartments. Also the building can also have a yearly assessment, raising the maintenance is not the answer. Finding a way of lowering cost and cut building expenses would help.
The problem is the condo owners, they complain about the high assessment, why do you think they will except a yearly raise in maintenance. Everyone is moaning about the decision that the President wants everyone to have a say in running the building since they know best.
Let the owners write to the board about their concerns, no one I repeat no one should contact the building lawyer or accountant that is the Executive Boards job. Have a Happy and safe Thanksgiving

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Sponsor Renovation - SL Oct 22, 2021

Hi. We have a few apartments in my building that are still owned by the sponsor/holder of unsold shares prior to the conversion to a coop. He states that he is not required to have a licensed contractor to do his renovations.

Some back story. He is selling apartments now when the tenants move out, and opening walls, knocking down partial walls, redoing tiling, replacing kitchen cabinets, installing dishwashers, sanding and refinishing floors, replacing moldings, etc. Large amounts of debris are being removed.

It is a very old building, and the other shareholders are required to have licensed contractors for such renovations. The sponsor states that it is not construction and does not require a licensed contractor.

The board has had multiple conversations with our managment company to clarify that the renovations are being done properly (according to NYC law, and we asked that proof of license/insurance/workman’s comp and applicable permits be obtained. The sponsor is still oy complying and becomes very verbally abusive and threatening when questioned. We are trying to ensure the safety of our building and tenants.

He is now threatening me because I asked the managment company to make sure the applicable paperwork is in order before work is done.
According to NYC.gov a licensed contractor is required for such work. The sponsor is insisting it is not.

Can someone help clarify the situation?

Thanks

> Join the conversation Comments (1)

It's my opinion, without knowing the ins-and-outs of your building and your rules, etc. that even if a sponsor doesn't "require board approval" for alterations, they should still be abiding by the House Rules as it pertains to work hours, utilizing insured and properly licensed contractors and obtaining any required permits from the city as may be needed.

With that being said, if you are not seeing this happen and illegal construction is taking place due to any of these factors, the due diligence that the incoming purchaser should do may point some of this out - especially if improper modifications to the apartment were made.

The Board could always go after the new Shareholder to obtain the correct permits and documentation from DOB, etc., where needed and since the issues run with the shares, and not the shareholder, they could require the new shareholders to file and modify the records / work to ensure full compliance.

Long story short, even if they don't need permission, they still need to follow all of the rules.

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> Join the conversation Comments (2)

Agree with Mr. Levine. Sponsorship has nothing to do with construction requirements. If shower bodies and light switches are moving, the fact that it is a sponsor apartment does not make illegal plumbing and wiring magically safe.

Call DOB / 311 and register a building complaint. They'll send someone over. Not sure how to STOP the work, though you could suggest that if the work doesn't have permits etc. then it may have to be redone. Last thing he needs is a finished apartment that is determined to be inhabitable. Have to be forceful with this type of person, push as hard as he is pushing.

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The Sponsor is absolutely required to have licensed and insured contractors and any sub-contractors must be licensed and insured. A sponsor just cannot do as he wishes he needs to abide by NYC housing codes. Email and Call the Housing department and provide the sponsor with a copy of the email. What action is the Board and the Management taking on this matter? Is the Sponsor the management company too? How many seats on the board does the Sponsor have? Where is the Board President and that is who should be objecting to this illegal work.

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Superintendents in Coops - Paul P Oct 08, 2021

For a coop with 140 apartments how many Superintendents
are required ?

By NYState/NYCity law is it a certain ratio established related to the number of Supers/Apartments ?

> Join the conversation Comments (1)

There are two areas of NYC laws that touch upon this. You are over 9 units, so the first definitely applies to you: The first is the Housing Maintenance Code, Article 13, and it states that "a building of 9 apartments or more" is subject to the requirements.

The second is the Multiple Dwelling Law Article 3/title 83, which states "a dwelling with thirteen or more tenants."

Both articles state either/or... a 24 hour janitor or housekeeper or a janitor can reside in the building or a janitor can reside within 200 feet of the building (or the agent or owner lives in the building).

If you have a responsible party for the Coop that lives in the building (the Board President, or the like) who can be responsible in an emergency, you can most likely satisfy the requirements of the Fair Housing Maintenance Code, which is quoted at the top. I would put that person on the Multiple Dwelling Registration of the building as well.

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Fee for Exterminator - mr.gardenz Oct 07, 2021

As a multiple dwelling, is a co-op responsible for regular exterminating services?
Can a co-op charge back shareholders for this service?
Can a co-op waive the charge for resident shareholders but charge for non-residents who are subletting with the Board's approval - or rent regulated tenants of a Holder of Unsold Shares?

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