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Large, Mysterious Infusion of CashMay 20, 2009


I would ask for written documentation of the source of the deposit. The reason is that it could be a covert loan from someone, with an equally covert, undisclosed agreement to pay the money back, which could affect your assessment of the adequacy of the applicant's income to meet the maintenance on the apt. I wouldn't take general verbal assurances as a substitute. If it's a loan, talk to your lawyer about how you can protect the coop against a future covert repayment agreement.

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