Real Estate Law
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I have a few co-op apartments that I bought back in the 1980's as investments and have rented them since my purchase. I never moved in. It was and is open and notorious. The cooperative has known and done all the actions in support of same (changing intercom names, giving mailbox keys, etc..) Recently there is a new mood and the law firm that now represents the cooperative is planning on implementing a new sublet policy restricting subletting to a certain number of years and charging fees etc. The p_lease I believe does not allow for them to restrict years as the language states "shall not unreasonably withhold consent to subletting" and there is no restriction on time. there is case law that supports this " DESOIGNIES V. CORNASESK HOUSE TENANTS' CORP"
Furthermore they are getting assistance from the sponsor who is not selling any shares but just keeps renting, and has 49% of issued and outstanding shares. I know a case which started dealing with compelling the sponsor to sell shares "511 W. CORP v. JENNIFER REALTY" 98 N.Y.2d 144 (2002) I know the cooperative is attempting to get me. They tried a non judicial foreclosure for arrears of a minor amount of money and did not evict me and now they are trying this. I am thinking of jumping them by starting a shareholders derivative action against the cooperative to compel them to move to make the sponsor sell shares. What decisional law is out there in the first department of Ny that would support my arguement. Next, that the cooperative has never sought to hold me to any sublet policy can I argue a permanent estoppel?
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