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Re: Co-op shares: read the proprietary lease

Posted by link on January 17, 2001 at 15:44:04:

In Reply to: Co-op shares posted by James D. Shadoff on January 17, 2001 at 12:58:12:

: I took over my parents Co-op Apartment. They told me that I can live there as long as I want, but I CAN'T recieve the shares for the apartment. Under the original lease that my father signed, I am told that the shares are not transferable. Am I still entitled to them?

Usually, in normal co-ops.

This might be a restricted co-op, like Mitchell-Lama.

Read the proprietary lease. Can't find your parents'? Get one from the co-op board or a neighbor.

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