Under New York condominium law, a unit owner has various rights and responsibilities. All of the following are typical rights of a New York condominium unit owner EXCEPT:
Correct Answer
A) The right to approve all new purchasers before they can take title
Condominium unit owners in New York do not have the right to approve new purchasers. Unlike cooperatives, condominiums allow free transferability of units. The board cannot block sales or require purchaser approval, which is a key difference from co-op ownership.
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- → Jennifer inherits her grandmother's cooperative apartment in Brooklyn. The proprietary lease has 75 years remaining. What happens to Jennifer's ownership interest if the proprietary lease expires?
- → In New York, what type of property interest does a cooperative apartment represent?
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