New York's Cooperative and Condominium Community
Someone in my coop recently asked if SHs can exchange apts that are allocated the same # of shares and our attorney said no. You can't negotiate the difference in value of apts, and there are factors such as taxes, mortgages on the apts, etc. If this were allowed, SHs would be exchanging apts in their buildings and between buildings all the time, and what a mess that would be.
Your SH has to sell the shares for her apt and buy those for the other apt - and why does she want minimum paperwork due to her immigration status? Something there doesn't sound right to me.
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!