A guide on New York liens for coops. Kiritsis Law 212 922 0005
Not all liens are created equal. This legal type guide takes on the ambitious goal of trying to zoom in on specific lien law issues involving coops.
Quick OverviewProviding proper legal analysis with regards to possible issues in this practice area of the law, would often be futile without a very fact specific set of inquiries. Besides the legal ramifications involved, one may need to look into the day to day habitation interaction changes, that may come about from taking any underlying legal actions.
Not every case is the same.Liens on condominiums should not be confused with liens on a coop. Collection strategies revolving around coop type liens would need to differ significantly from collection strategies involving condominiums (or other real property ownership schemes for that matter), if an optimally favored outcome is desired. Although, all mortgages if properly and lawfully entered into, would amount to a real property lien, that does NOT mean that New York real property liens are the functioning equivalent of a mortgage-generated property lien.