Bills Would Impose Time Limits on Co-op Purchase Applications (NY)

There are currently half a dozen pieces of legislation under consideration in New York City and Albany that could change the way co-op apartments get bought and sold. Co-op advocates are not pleased with any of them. Some of these bills would give boards 10 days to declare if an admissions package is incomplete; others would impose a 45-day limit on boards to act on purchase applications; and others would require boards to provide written reasons for rejecting an application.   Read the article…………….

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