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Prepay co-op maintenance for a year?

Started by ss400k
almost 14 years ago
Posts: 405
Member since: Nov 2008
Discussion about
Possible? I'd like to pay my 2013 property taxes (part of maintenance) in full for the year. I know I can pay on nyc.gov, but I doubt my co-op would adjust on the billing statement as theyre pretty lazy to adjust anything.
Response by Eric_14
almost 14 years ago
Posts: 93
Member since: Sep 2011

Yes and no. Yes, you can prepay any amount to your coop. They will simply credit you account. No, you cannot prepay property taxes because you don't pay those taxes, the coop does and they will pay them when they are due.

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Response by MSantori
almost 14 years ago
Posts: 29
Member since: Mar 2012

If you own a share in a Coop, then you don't own any real estate. Accordingly, you don't owe any real estate taxes. The corporation - of which you are a part owner - owns the real estate. Thus, the corporation owes the taxes. Eric_14 is right: you may be able to pre-pay your maintenance to the managing agent, but not all agents will allow it.

What are you trying to accomplish by paying them in advance?
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Marco Santori is a lawyer in New York City, but he isn't your lawyer, and you should not rely on this post for legal advice. If you have any other questions, feel free to email at MSANTORI@NMLLPLAW.COM

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Response by w67thstreet
almost 14 years ago
Posts: 9003
Member since: Dec 2008

As opposed to setting up a automatic debit at your financial institution.

I'd like to ask 'smart' re lawyer on the se forum. Is there anyway that I can prepay my mortgage?

No. No. No. Not the principal. I'd like to give someone the entirety of the monthly payments * 360 (interest and principal) today?

It's a zero rate policy not a 'r u stoopid' rate policy....

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