I have an acceptable counter-offer on a coop unit. However, seller will need to stay for an additional month after closing, and is willing to pay my mortgage/fees for that month. The coop board has rules against subletting. Would this condition severely jeopardize the closing?
2 Answers from Attorneys
Put a rider to contract delaying your possession for 1 month. Have separate agreement regarding expenses. This is not a sublet.
I agree with David. A simple Use and Occupancy Agreement can cover this and is not considered a Lease. Plus, at worst you would be considered renting for one month. This is not subletting.