QUESTION
Our co-op Board artificially inflates sales prices:, last year I challenged them on this. they hate me. Now we are trying to sell.
Asked on Apr 27th, 2017 on Residential Real Estate - New York
More details to this question:
We are afraid the Board, operating in a totally non-transparent way, will not approve our very qualified buyer (799 credit score, good job, promising future) because of their vendetta against me. They have targeted others who sued and those lawsuits have recently been resolved with no details or explanation to shareholders. We don't know when or where their monthly meetings are. Their treasurer, upon learning we were selling, immediately called his cousin to find out our plans (his cousin worked with my husband). The Board president and super smoke marijuana together (documented). Last year the super, (in the pocket of the Board president) assaulted a resident off-premises, was convicted and placed on probation. The suit brought by this shareholder was one of the two quietly settled. This is not living in the US. My son is with the Inited States Department of State. These abuses of power need to be addressed.
1 ANSWER
Civil Rights Law Attorney serving Rockville Centre, NY
Partner at
Lori Nevias, Attorney at Law
1 Award
The decisions of a co-op board will generally not be subject to scrutiny if they are made as good faith business decisions. However, if they are made in a malicious or discriminatory way, not only the board but individual board members can also be held liable for the same. So in answer to your question, the board cannot reject your very qualified buyer unless there is a good reason.
As a shareholder you have a right to know what goes on in board meetings by going to the management company's office and requesting to review the minutes. If you find that there is a pattern of wasting the co-op's money by settling frivolous lawsuits or continuing to employ a super who is a dangerous criminal (you didn't say if you feel he is dangerous or not), you can bring this up to the board or at a shareholder's meeting, and challenge the board in the next (what should be annual) election.
Answered on Apr 27th, 2017 at 8:36 PM