Boards have to Be Aware of Fellow Board Member Bad Behavior
A classic example of board leaders acting badly because there is no oversight by other board members, just happened in...
Condo Foreclosure Buyer Snoozes and Loses – Board gets to Keep Deposit
This is a classic story of "you snooze, you lose". A Brooklyn condo board at 442 St. Marks Avenue Condominium...
NY Coops and Business Corporations are Allowed Electronic Voting for Shareholders’ Meetings
New York has taken a tremendous leap forward in the digital age and changed the Business Corporation Law (BCL) Section...
Board Members Stuck in Lawsuit Individually – Business Judgment Rule Doesn’t get them out on Summary Judgment
Whenever cooperative, condominium or HOA board members are sued individually in a lawsuit, the first thing counsel will try to...
NY’s First Department Walks Back Pomerance Condo Document Inspection Rights a Little Bit
New York's Appellate Division, First Department (which covers the Manhattan and Bronx) just decided a case by a unit owner...
NY LLC’s for Condo Ownership do not have to Disclose Personal Information
The New York state tax department unhinged the real estate industry by requiring that LLCs list the names and individuals...
The Tenant Protection Act Significantly Affects New York Cooperatives
The Housing Stability and Tenant Protection Act was enacted recently in New York State to protect millions of tenants in rental...
Sublet Fees for Sponsors or Holders of Unsold Shares
Attorney Joe Colbert discusses a recent case allowing New York cooperative boards arguably to charge sublet fees for their sponsors...
IRS AUDIT NOTICE – What NOT to do!!!!
