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children as co-purchasers in co-op

Started by sur19
almost 16 years ago
Posts: 28
Member since: Jan 2008
Discussion about
Does anyone have an idea about the conditions under which children are considered as co-purchasers in a co-op? Can children use a co-op as their primary residence if parents do not live there?
Response by corozeng5
almost 16 years ago
Posts: 36
Member since: Nov 2009

I have a similar situation. Since my son is not on listed on our lease, the co-op does not consider him a co-purchaser. Therefore, since we do not live there with him, he is considered a subtenant. I was told it depends on what the building lease states. So, you have to read the lease carefully.

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Response by NYCMatt
almost 16 years ago
Posts: 7523
Member since: May 2009

"Can children use a co-op as their primary residence if parents do not live there?"

Generally speaking, no.

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