Coop Blues
Started by musososeki
over 14 years ago
Posts: 3
Member since: Aug 2011
Discussion about
I am desperate for advice. My great uncle passed away and left a coop in Manhattan to his niece (my mother) and her two brothers. My uncles agreed to transfer ownership of the coop to my mother in lieu of equivalent estate assets. The board required that she complete a purchase application as if she were a prospective buyer; they subsequently rejected it (no reason given, naturally). As an aside,... [more]
I am desperate for advice. My great uncle passed away and left a coop in Manhattan to his niece (my mother) and her two brothers. My uncles agreed to transfer ownership of the coop to my mother in lieu of equivalent estate assets. The board required that she complete a purchase application as if she were a prospective buyer; they subsequently rejected it (no reason given, naturally). As an aside, I can't think of another asset that cannot be inherited outright. This situation raises several questions: 1. Can the board force my mother to sell the unit? Would such a coercion hold up legally? (I suspect the neighbor, who wants to expand her unit, is on the board; she certainly has her fingers in this and has asked if the unit is for sale.) 2. If not, is my mother to remain a perpetual guest of my great uncle's estate, as defined in the coop's policy for guests? 3. What is an effective strategy for occupying the unit? We are not above private investigators, going to the media, etc. We figure that once we have crossed the board, we might as well shoot the moon, to mix metaphors. Thank you for any help you can provide. [less]
You mother needs to talk to an experienced real estate attorney