New York's Cooperative and Condominium Community
I don’t believe the writer’s question was answered. He lost 2 years of the abatement and how does he reclaim it? He wrote “I’m considering small claims court.” Indicates he is seeking the abatement he is entitled to.
1) Would the writer succeed if they were to go to small claims court?
2) What recourses does the writer have to reclaim their lost abatement?
3) When a person purchases their first coop, how and who is responsible to advise the new coop owner of the abatement paperwork?
The answer: “it's your job to manage this, not your managing agent's … you should be doing this for yourself” is just too severe and judgmental and unhelpful, please read on:
When I purchased my first and only coop, I was never informed of the Abatement by NYS, NYC, at the closing or by the Management or my lawyer. Four years later in a brief talk with a neighbor I learned about the abatement.
It was the Management Company who gave me the paperwork (the Mgmt Company is owned by the Sponsor, who is also the Board’s Vice-President and whose employee is the Board Secretary) the aforementioned have been controlling an entrenched board and running this coop for 15+ years, so with those facts now known, the Management, Sponsor, Vice-President and Secretary MUST know about the abatement paperwork.
4) Since I did receive the paperwork from the Management, would you agree they are at fault? They did say in an email “there is nothing they can do about it now”.
5) If, yes, Management is responsible, how do I proceed, do I go to small claims court or do I try to make a claim on their ‘error and omissions’ policy and how would I do that?
6) Would I be entitled to interest on the abatement should I proceed with small claims court?
Thank you for your assistance.
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Habitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
Learn 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
Got elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!