"socrateaser" Trying to get a handle on the following: When a potential buyer of a coop unit submits their package to the board is there any limitations on the number of times they can reject the buyer, if so do they need to give a reason and what happens when they reach their limit and what can the seller do? Is there any such rule for a condo? Does such a process exist when the owner wants to rent their unit? Can the board take any action against the
Country relating to Question: United States
There is no limit on the board's ability to reject a purchase offer. The only limit is that if there is evidence of unlawful discrimination (race, color, nationality, religion, sex, age or Disability), then the prospective buyer can file a complaint with U.S. Housing and Urban Development.Concerning a rental, the covenants and/or bylaws control the owner's ability to sublet a coop. A coop tenant cannot simply sublet an apartment despite NY RPL 226-b, which requires subleasing of an apartment under reasonable conditions (for any coop proprietary coop lease established on or after June 3, 1975). This is in contrast to a condominium where the owner is the landlord and so he/she generally has the right to rent his unit.Hope this helps. NOTICE: My goal here is to entertain while educating the public about the law. Your positive feedback to the website is appreciated. If you need to contact me again, please put my user id at the beginning of your question ("To Socrateaser"), and the system will send me an alert. Please Click the following link for IMPORTANT LEGAL INFORMATION. Thanks and best wishes!
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