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To mitigate rising insurance costs, co-op and condo boards can shift water damage coverage to homeowners by amending proprietary leases or bylaws. Communication is key.

Elderly co-op shareholders are increasingly transferring ownership of shares to trusts for estate planning. Conditional consent agreements can address concerns.

The business judgment rule protects boards, but it has exceptions, like decisions leading to owner revolts, which can have severe consequences.

Boards are passing on building upgrade costs to shareholders during apartment renovations to control expenses, especially in aging buildings.

The business judgment rule can offer boards protection in various categories, with boards generally having more protection in contractual issues. Directors and officers insurance covers these claims, but only up to a point.

In condominiums, commercial unit-owners may be asked to pay for expenses unrelated to their unit. Bylaws and agreements govern these obligations, often leading to negotiations.

Mitchell-Lama co-ops allow succession to prevent family displacement upon a shareholder's death. Strict regulations govern succession, and consistency is crucial in implementing policies.

Constant construction notices and mandatory postings in Lower Manhattan co-op have overwhelmed residents, hindering community connections.

Hanan Thabet, a native of Manhattan, returned to her childhood co-op at the Wendhorn, serving as a board member, focused on building improvements and financial management.

It's essential for buildings to review certificates of insurance (COIs) carefully to avoid potential liability. Fake COIs are a serious concern, and insurance brokers should be involved in verifying coverage details.

For delinquent shareholder payments, boards can choose between communication and legal action, depending on proprietary lease terms and preferences for resolving the issue.

Boards can legally evict shareholders who violate residency rules but may consider a less adversarial approach, like demand letters or negotiation.