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new coop owner pay assessment for fund mistakes?

Started by Coopowner
about 15 years ago
Posts: 2
Member since: Jan 2010
Discussion about
Hi, My building mistakenly charged flip tax in 2009. Now the building has to pay this back and have made an assessment for current shareholders to cover the money. If I moved into the building in summer 2010 should have have to pay this assessment? Thanks
Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008

If your 15 yo son steals your car and rams it into a police station, who do ya think is gonna owe?

A: the 25 attorneys and 6 insurance plans after 7 years and $2mm in legal costs, will determine the how $50k gets paid.

Obtw? As a renter these issues are non existent. Flmaozzzzzzzzz. Hope you got the $15k tax credit and 4% mortgage! Sucka.

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Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008

Okay. I'll be nice. The coop can assess your shares. The issue is between you and the seller of your coop.

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Response by w67thstreet
about 15 years ago
Posts: 9003
Member since: Dec 2008

But I'm almost certain there is no clawback provision in your sales contract. As a seller, my attorney would never allow it. And Don't take a dump in the new coop, no neighbor likes a pooper.

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