Legal Question in Wills and Trusts in New York
C0-op rules on removal of a name from a stock certificate
My Mom died 14yrs ago. She and her husband owned a co-op...tenants in common. Her husband is trying to remove my mother's name and either put his new wife's name on it or soley own it byhimself. He did this behind ours backs.My brothers and I would like to protect our portion of the co-op.My Mom didn't have a will and we are her 3 hires. Is there anyway we can force him to sell or buy us out ?
1 Answer from Attorneys
Re: C0-op rules on removal of a name from a stock certificate
If your mother died with a Will then only her Executor is authorized to sign the papers to make the transfer. If she died withou a Will then only her Administrator has the that power. I suggest that you write to the co-op board and notify it of the situation so that the documents of transfer will be signed solely by the authorized person.
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