HABITAT
When Grandma Wants to Add Junior: Navigating Co-op Stock Transfers
One would think it would be easy to add a family member to a co-op stock certificate, but you can’t "just add a name." For boards, it requires careful consideration of multiple factors, including transfer taxes, flip tax implications, and the financial viability of new shareholders. Matthew Goldberg, partner at Hankin & Mazel, explains how boards should evaluate cases where incoming family members lack strong finances, such as recent graduates being added to elderly relatives' shares, and outlines the legal requirements and NYC filings necessary to protect the co-op's interests. Habitat’s Emily Myers conducts the interview.
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learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
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