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Posts tagged "Condominiums & Cooperatives"

Can you oust someone from your co-op board?

You genuinely appreciate all the hard work that your co-op's board of directors does. The board members clearly take their responsibilities to heart. They're also a pretty diverse lot, so there's a lot of give-and-take on the important issues -- except for that one guy.

Know what details your offering plan should include

The New York State Attorney General's Office oversees the Real Estate Finance Bureau. That state-government agency determines what information condominium buyers and sellers and respective condo associations or cooperatives (co-ops) should include in their offering plans.

Don't attempt a condo conversion on your own!

You likely put in a lot of work if you own a Manhattan apartment building. You may have dreamt about finding a way to reduce your workload but not be overly clear about how to do so. Pursing a condominium conversion may allow you to be less hands-on than you currently are.

Tips for selling your share of a co-op

Not just anybody can buy your share of a co-op. Housing cooperatives are quite common in New York, but the ownership interest in a co-op works very differently than owning an individual home. Taxes and repairs are shared, and there are a lot of advantages to pooling your resources -- but reselling often requires finding someone that the co-op will accept as a buyer.

Get help for your New York condominium legal issues

When a housing development or apartment building converts to a condominium there's often a steep learning curve involved for everyone. Some of the problems you may encounter -- whether you're a developer or a resident -- can end up being easily resolved. Others will probably require some experienced legal assistance.

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