Under New York condominium law, the board of managers has various powers and duties. All of the following are typical powers of a New York condominium board of managers EXCEPT:
Correct Answer
A) Approving or rejecting potential purchasers of units
New York condominium boards of managers do not have the power to approve or reject potential purchasers of units. This right of first refusal or purchaser approval is characteristic of cooperative ownership, not condominium ownership. Condominiums allow free transferability of units.
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Mark owns a penthouse condominium unit in Manhattan that includes exclusive use of the rooftop terrace. He wants to install a hot tub on the terrace. The terrace is designated as a limited common element in the declaration. What approval does Mark need under New York law?