Will Your Co-op or Condo Lose Its Corporate Status? Because It Happens (NY)

Dean Starkman, a board member of a 12-unit Brooklyn Heights co-op. negotiated with a lender to refinance the mortgage on his apartment, a fairly routine affair. He had assembled all the required paperwork and, he recalls, “the last piece of the puzzle was our certificate of good standing as a corporation.” At that point, the lender informed Starkman it was putting a hold on the deal because the co-op’s corporate status had been revoked. How could that be?   Read more………


Related Articles

Tips to Voice your Concerns and Get Results in your Community

Disagreements among homeowners and fellow board members are bound to happen. However, that’s not always a bad thing. When they’re

The Insurance Puzzle – What Boards Must DO and Must AVOID

A key obligation of the association board is to protect the assets of the association. One of the primary elements

What Can You Expect If Your Home Is Part of a Homeowners Association?

If you’re planning to buy a home, there are countless decisions you’ll have to make. How many bathrooms do you