Q. In this time of economic uncertainty and depressed Manhattan co-op sales, sellers have been willing to accept bids way lower than a board would allow. If a seller and buyer agree to enter into a contract of sale for an acceptable (to t…
Q. Today shareholders at our Mitchell-Lama co-op in Queens were informed with less than 24-hours notice that there will be a film shoot taking place tomorrow on the property from 6:00 a.m. Thursday and completed 12:00 p.m. on Friday. Not…
Q. How can a shareholder be protected from a board’s abuse of authority when implementing excessive fines on the community of shareholders? Some of the fines being imposed by the board are not defined in our bylaws or house rules. On occ…
Q. For the past three years, my co-op has not obtained a quorum at the annual meeting. In 2020, during the pandemic, the board decided to go virtual by using Zoom. However, at each annual meeting, the co-op did not reach a quorum, and as …
Q. Can an HOA unit owner demand to see a copy of the monthly list of unit owners’ payments? —Seeking Access A. “Yes,” says attorney Aaron Shmulewitz of the New York City firm of Belkin Burden Gol…
Q. I am a former board member who held the office of secretary. I have a question pertaining to a stock certificate. I signed a stock certificate regarding a shareholder (who died in 2018) that was approved by the previous board and issue…
Q. I live in a three-flat condo. Before I purchased the second floor, the owner of the third floor opened up the wall to the porch, enclosed the porch, and claimed it as living space. It has since been cited by the city and must come down…
Q. Is it illegal for a cooperative board to decide not to hold an annual shareholder meeting? If a cooperative board does not meet, what rights is a shareholder entitled to? —Shareholder Waiting for the Meeting A. Margery N. Weinst…
Q. Our Association is self-managed with 12 units. An owner installed a dishwasher without any written request or approval from the board. The board told her that we believed this was a violation, since all 12 units share one water tank an…
Q. Our Nassau County co-op was converted in the 1980s. The current property manager owned and managed the property as a rental property pre-conversion. The firm still manages the property. Recently, two apartments we had for a resident su…