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Can the Board of a Coop Housing Association refuse to change…

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Can the Board of a...
Can the Board of a Coop Housing Association refuse to change the name on the shareholder certificate or title if there is no mortgage on it? I would like to pay my mortgage balance cash to be able to transfer the certificate to my son solely. (Maryland
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Submitted: 2 years ago.Category: Real Estate Law
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Answered in 5 hours by:
6/30/2015
Real Estate Lawyer: WiseOwl58, Lawyer replied 2 years ago
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,476
Experience: Experienced real estate lawyer and real estate broker.
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They have the right to approve your son as a stockholder of the coop; however, they cannot deny him for any discriminatory reason, under Maryland law. Thus, if he is qualified on all other standards that the board uses to admit new members, then they must admit him as a stockholder of the cooperative.
Please rate 4 or 5 and close out the question. Thanks and good luck to you.
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