By Adam Leitman Bailey Q. In our Queens co-op (containing 68 apartments) we do not allow laundry washing machines. A few owners have had them from years back, others have recently renovated and installed washing machines in their apartments. This causes unacceptable foaming and backed up pipes in units above and below and bad bleach Full Article…
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“Dangerous Dogs,” The Cooperator
By Adam Leitman Bailey Q. I live in a 60 apartment co-op building. There are four tenants/shareholders who own dogs. Three have dogs that are well behaved, liked by just about everyone, and have never been a problem. The fourth, however, has two vicious dogs that have attacked individuals, and in one case bit a Full Article…
Can Co-ops Allow Roommates?
Can Co-ops Allow Roommates? Q:I live in a self-managed co-op and we are getting conflicting information about whether co-ops can disallow roommates or not. We’ve heard that the board of directors has absolute decision making power over whether or not to allow roommates to move into a co-op. Others say it should be voted on Full Article…
Q & A: One Good Reason, The Cooperator
By Adam Leitman Bailey Q. When an applicant applies to buy into a co-op and pays the high application fee, yet is denied by the board, shouldn’t they be given a reason why they were rejected? I feel strongly that the board is wrong in turning someone away without so much as an explanation, especially after Full Article…
Q & A: A New Board Member Asks to See Old Minutes, The New York Times
By Adam Leitman Bailey Q. I was elected to the board of my self-managed co-op. After several meetings, I asked to see the minutes of the last five years so that I could better understand the building and its management. I was told that I did not have the right to see these minutes. It Full Article…
Q & A: When a Co-op Files for Bankruptcy, The New York Times
By Leonard Ritz Q. The finances of our co-op building are in poor shape, and we are worried the co-op corporation may end up in bankruptcy. If this occurs, what happens to the shareholders, most of whom still have outstanding mortgages?
Cooperative Foreclosure: The Accidental Doctrine
By Adam Leitman Bailey and Dov Treiman Although the lack of judicial supervision of the cooperative foreclosure process for default upon cooperative apartment mortgages vastly simplifies the lives of lenders’ counsel, under the latest changes in the foreclosure statutes, it creates a nightmare for the title industry insuring titles down the line from such a Full Article…
Q & A: How Long To Approve? The Cooperator
By Adam Leitman Bailey Q. I have a one-bedroom co-op in a six –story, 78-unit building in the Bronx on the market for $53,000 and have a prospective buyer who filled out the board application and provided the financial information required by the board. After reviewing his information, the board interviewed the interested buyer in Full Article…
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