THE COOPERATOR CO-OP & CONDO EXPO. TUESDAY, NOVEMBER 17TH. JAVITS CONVENTION CENTER. REGISTER NOW!
Q. Why are co-op board minutes so sparse that others who read them—shareholders, lawyers, brokers—have no real idea what goes on at meetings? Our minutes are routinely ‘sanitized’ to leave out any troublesome issues, any comments by vario…
In a market economy, price and value are assumed to be mutually reflective. Investors expect that their assets - in our case real estate, and specifically co-op and condominium apartment units - not only maintain their value, but experienc…
What rights do individual owners have to inspect their association’s books? What rights do boards have to limit owner review? When can a board restrict what an owner discloses to other owners, or what board members disclose to owners? This …
Back in 2021, Congress passed the Corporate Transparency Act (CTA), a federal law requiring most corporations, LLCs, and other such entities to register with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The …
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…
While co-op boards have an enormous amount of influence over who is - and is not - allowed to purchase shares and call their building home, condo boards have far less power in that regard. While co-op boards can (and usually do) reject bu…
Another new bill - known as INT 914 - with the intention of increasing the pace and administrative transparency of co-op share transfers is currently before the New York City Council. What’s In It INT 914 would require the boards of co-o…
Q. Why are co-op board minutes so sparse that others who read them—shareholders, lawyers, brokers—have no real idea what goes on at meetings? This is because minutes are routinely ‘sanitized’ to leave out any troublesome issues, any comme…
Buying into a residential community like a co-op, condominium, or HOA can be a bit like selecting the political system you’d like to live under. Governance styles can range from an Athenian democracy where every member of the community is i…
Q. Can a unit owner demand to see a copy of the monthly list of unit owners’ payments of the monthly HOA? —Owner Seeking Access to Docs A. “Yes,” says attorney Aaron Shmulewitz of the New York City firm of Belkin Burden Goldma…