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Cooperatives > By-Laws

  • By: Michael Kayam
  • Published: November 10, 2020

The main differences between condominiums and cooperatives are their ownership structures and their governing documents, which contain the policies and rules for living in these communities. Condominium governing documents provide condominium unit owners a more flexible form of ownership regarding sales and leasing, whereas cooperative governing documents are typically more restrictive and have a more detailed sales and leasing application…Read More

  • By: New York Cooperator, Quoted "Stephen Lasser"
  • Published: July 24, 2013

Some situations might be more acceptable to condo boards (and neighbors) than others, depending upon the community, Stephen M. Lasser, Esq., a partner with the Manhattan-based law firm of Barton LLP, says. “Temporary situations such as relatives living with other relatives during a period of unemployment or while they are searching for other housing is more acceptable,” Lasser says. An…Read More

  • By: The New York Cooperator, Quoted "Stephen Lasser"
  • Published: June 26, 2011

With homeownership comes great responsibility. For co-op and condo residents, part of that responsibility means sorting through the seemingly mile-high stacks of documents handed to you before, during and after the purchase process begins. Those documents can be confusing, especially for first-time buyers. Becoming familiar with each piece of paper and what it means is an important part of that…Read More

  • By: New York Cooperator, Quoted "Stephen Lasser"
  • Published: October 10, 2010

Another common scenario: say the wife of the board treasurer is a real estate broker. She’s the listing agent for an apartment in the building. She found potential buyers, who now have to get approved by the board. “It’s okay for a transaction like that, where there’s a related director,” says Stephen M. Lasser, an attorney shareholder with the Manhattan…Read More

  • By: New York Cooperator, Quoted "Stephen Lasser"
  • Published: February 24, 2009

Every co-op or condo has rules and regulations that have been put in place to define the board’s authority and limitations of power, as well as outline the rules for the community, residents or shareholders. And although the governing documents are intended to work in the best interest of everyone in the building, they sometimes pose problems. Especially, when rules…Read More