Legal Question in Real Estate Law in New York

If 43% of coop shares default, how does it financially effect the remaining

57% of share holders in a coop building ?


Asked on 2/06/10, 12:58 pm

1 Answer from Attorneys

Arnold Nager Arnold H. Nager, Esquire

The remaining shareholders will be responsible for the entire cost. The Board needs to foreclose on the defaulting shareholders.

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Answered on 2/16/10, 4:49 pm


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