If you live in a condo or a co-op, you most likely have heard the term fiduciary duty, usually in reference to the responsibilities and obligations of board members and management. But what is a fiduciary duty? In essence, it’s a legal rela…
By its very nature, life in a co-op or condominium community is different from living in a rental unit or a private home. While that statement may seem pretty obvious, many owners of co-op and condo units lack a clear understanding of what …
Back in the fall of 2019, the New York State Legislature passed a new and stringent law meant to protect and defend the rights of rental tenants. Because co-op boards technically fall under the legal umbrella of ‘landlord’, they were subjec…
The Cooperator Events Presents a Virtual Town Hall: Penny-Wise But Pound Foolish - How to Prioritize Maintenance Projects & Reduce Risk. Sponsored by Czarnowski & Beer LLP Thursday January 20, 2022 at 2:00 PM WATCH ON DEMAND The dea…
With all the pandemic-related restrictions being discussed in the media, it’s sometimes startling to realize how much renovation work is still going on in and around co-op and condominium apartments. It’s long been routine for co-op boards…
On January 5th, Governor Kathy Hochul addressed New Yorkers in the annual State of the State Address. According to attorneys Brett Gottleib and Mitchell Korbey of the law firm Herrick Feinstein LLP, “While [Hochul’s] speech was silent with …
On December 22, 2021, Governor Hochul finally signed into law the amendment which exempts cooperatives from many of the onerous provisions of the Housing Stability and Tenant Protection Act (HSTPA) of 2019. Under the HSTPA, late fees impos…
The Cooperator Events Presents a Virtual Town Hall: Budget or Lose It - Maintaining Optimal Cash Flow in Your Community Association. Sponsored by Axela Technologies WATCH ON DEMAND Raising assessments is never a popular move for a board t…
A common phrase heard in many board rooms is that the board is protected under the law by the “business judgment rule.” This legal doctrine provides a judicial deference to a board’s decision if that decision is made in good faith and with…
The Cooperator Events Presents a Virtual Town Hall: A Matter of Trust - When Owners Transfer Apartments to Trusts, LLCs, & Other Legal Entities. Sponsored by Smith Buss & Jacobs LLP Tuesday November 16, 2021 at 2:00 PM WATCH ON DEMAND…