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If a shareholder is a Holder of Unsold Shares with Sponsor Rights but is not the Sponsor:
1. Can the Shareholder sell the apartment to a Purchaser who intends to live in the apartment without Board approval?
2. Can the Shareholder with Sponsor Rights transfer the Sponsor Rights to a Prospective Purchaser who does not intend to
live in the apartment but intends to lease the apartment as an investment unit?
Please advise.
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Contact an attorney, pronto. You are asking very complex legal questions which may have very precise and limited responses. Do you want to jeopardize any of your current and future prerogatives to as a few dollars?
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