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unsold shares/sponsor obligations

Started by pinecone
about 13 years ago
Posts: 144
Member since: Feb 2013
Discussion about
Hoping someone might have answers to this question: What obligations does a co-op sponsor have with regards to selling rent stabilized/controlled units once they become vacant? Is the sponsor allowed to retain the unit for his own use? Can he allow a family member to move in? Or is the sponsor obligated to dump unsold shares entirely as they become freed up? Thanks.
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