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)
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?> Join the conversation
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.
§ 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.
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.)
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.> Join the conversation Comments (1)
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)
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?
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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