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Our coop has mixed zoning; commercial on the first floor. The original commercial shareholder a sole proprietor is selling his shares. The buyer is an LLC. The 30 year old proprietary lease for the commercial space has business use limitations on the space and we are discussing a consent agreement with the new owner to bring certain aspects of the lease up to date and to be consistent with current commercial realities.
Does anyone have any experience in the share transfer consent process for a commercial shareholder particularly in corporate form?
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