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sponsor unit in coop

Started by vsab
about 17 years ago
Posts: 3
Member since: Jan 2008
Discussion about
If I purchase sponsor unit for direct relatives, shall I have sponsor rights to the apt. and will be able to sell or rent it in the future without board approval? Thank you
Response by sticky
about 17 years ago
Posts: 256
Member since: Sep 2008

I think so, if you never live there. But you should confirm with an attorney, not this forum.

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Response by vsab
about 17 years ago
Posts: 3
Member since: Jan 2008

thank you

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Response by manhattanfox
about 17 years ago
Posts: 1275
Member since: Sep 2007

No -- not at all a guaranteed thing. In my old building you could buy from the sponsor w/o board approval but were like every other coop reseller when you sold. Check the docs and with your atty.

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Response by robocop
about 17 years ago
Posts: 104
Member since: Jan 2007

i think you lose sponsor rights if any relative occupies the apt.

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