Most co-ops in New York City were converted back in the 1980s, and that’s when their proprietary leases were written. This critical document outlines the relationship between the co-op as a landlord and the shareholder as the tenant, or lessee. It still amazes me how many co-op boards have not updated their ancient proprietary leases. A lot of the language just does not apply or address the various issues that come up in today’s world.    Read the article………………..