Prior to the pandemic and its ensuing shutdown orders, co-op apartment closings would typically occur at the office of the cooperative’s transfer agent, usually the managing agent or more often the cooperative’s legal counsel. All parties would come together in a conference room and the closing would be finalized in a couple of hours or less.» Read More
While the death of a shareholder is a serious issue for boards of directors and their managing agents, the current COVID-19 crisis has greatly heightened the issue and this blog post is a brief outline of issues arising from the death of a shareholder and actions the cooperative can and should take.» Read More
A common problem plaguing condominium boards is how to motivate delinquent unit owners to pay the arrears in their common charges.
When unit owners fall behind on their common charge obligations, the shortfall could mean that the condominium has trouble meeting its operating expenses.» Read More