Cooperatives (co-op) are a unique form of property ownership that is governed not only by landlord-tenant law but by other laws including business corporation law and the UCC as adopted in New York. In a co-op tenancy, the co-op corporation owns the building and the tenants are shareholders and owners of the corporation. The co-op enters into long-term leases called proprietary leases with the tenants, which grants the tenant the right to occupy a particular apartment unit and requiring them to make rent payments in the form of maintenance charges.
Our firm has extensive knowledge and experience in co-op matters involving eviction proceedings, UCC Article 9 sales, and drafting and negotiating sublease agreements of cooperative units. If you have any questions or need assistance with your co-op matter, let us help you. Please contact our office at (914) 965-1011.