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…………….

Related Articles

Are You Aware of These Utah Statues?

In 2015, the legislature added enforcement mechanisms to several statutes governing condominium and community associations that allow a unit owner to sue the association to require it to comply with the statute.

Condominium Measures Pass House (IL)

A slew of measures changing various aspects of condominium law in Illinois passed the House last week, but one bill

Condo Board Slams Door on Verizon

In a case that could significantly expand the powers of condo boards, 54 multiple-dwelling properties in New York City refused