Unnamed Queens COOP v. Client
Sep 30, 2013OUTCOME: We delayed the foreclosure and processed the estate payment. The owner went back home.
My client contacts me after being evicted. Here is why: although there was NO MORTGAGE on her shares of the CO-OP she had a hard time with maintenance payments and after about 10 months of failing to p ... ay she was evicted. The CO-OP would not even wait for her mother's estate to clear, even with clear proof that payment was coming. Instead the COOP wanted to cancel her shares and take her apartment. This is the peril of co-op ownership. This is not real property and with a difficult inflexible board an owner can get into trouble. You may need zealous representation in order to deal with them. In fact, here is a matter in which a person with substantial assets, namely a FULLY PAID apartment, was evicted.