A fact that is often overlooked is that the corporate operations of most co-ops are governed by the Business Corporation Law (BCL). The Business Corporation Law is the main New York State law which governs how co-op corporatio…
Q My ex-[husband] owns his co-op but has become diagnosed as mentally incompetent after a stroke. He is in arrears on maintenance and the co-op is seeking to evict him. He will be homeless. Also if the co-op takes his apartment, wil…
Q I’m a co-op owner in Nassau County, where my elderly mother lives. I have written repeatedly to the management company regarding water leakage issues we have been having, but while the management company had a remediation expert e…
Q Our cooperative building, for many years, carried a high mortgage. During those years, I did serve on the board. The interest on the mortgage was included in our monthly maintenance fee and was noted yearly for our share for IRS …