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Apparently a shareholder saw it fit to just rent his unit without Board permission, an interview, or paying a sublet fee. Can the Board void the lease currently between the shareholder and sublet or merely pursue the matter directly with the shareholder?
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The Cooperative has an effective lease with the Shareholder (Prop Lease). There is no relationship at all between the Cooperative and the Subtenant (illegal or legal).
The Cooperative would need to start an action against the Shareholder to cure the breach of the Proprietary Lease and to allow an opportunity for the Shareholder to cure the breach prior to the cancelation of the Proprietary Lease through those legal actions.
The Cooperative can't void the subtenant's lease and throw the subtenant out. It has to go through the proper legal process with the Shareholder. I would speak with your Coop's attorney to begin the action. All breaches that require legal action should have a provision that the costs associated will be billed back to the Shareholder that is the offending party.
Hope that helps.
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