Posts tagged "shareholder"

HDFC Cooperative Barred From Asserting that Tenant is Not Owner Despite Lack of Stock Certificate and Executed Proprietary Lease & Ordered to Issue Shares and Lease

Recently, after a non-jury trial, the Court in Terry v 241 West 111th Street, HDFC, NYLJ April 8, 2013 (Sup, NY Engoron, J, April 1, 2013):

Small Leak Big Case

A small leak developed in the closet ceiling of apartment 15L, a coop apartment. The Coop's engineer's opinion was that it was caused by a leak from the bathroom in apartment 16L. The 16L apartment owner retained our firm and an engineer whose opinion was that the leak was not emanating from our client's bathroom but rather from pipes higher up in the building.

Rights of Co-op Shareholders Whose Apartments Were Damaged By Hurricane Sandy

Many coop tenants whose apartments were damaged by Hurricane Sandy are wondering if they have any rights to financial compensation, in the form of an abatement of maintenance, resulting from their apartments being rendered partially or totally uninhabitable. This post does not address issues regarding property damage or relocation costs if the apartment is completely unlivable. The amount of a particular abatement will depend upon the extent of the damage to the apartment and how long the conditions exist. The cooperator must notify the coop board or agent of the damage, preferably in writing, and demand immediate repairs and provide access if requested. Conditions such as mold should be remediated according to Department of Health guidelines by a qualified expert.

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