Creates a special subpart of the housing part within the NYC civil court to handle cases involving condominiums and cooperative buildings.
Creates a special subpart of the housing part within the NYC civil court to handle cases involving condominiums and cooperative buildings.
Creates the cooperative and condominium ombudsperson program; authorizes the residential unit tax; establishes the cooperative and condominium ombudsperson program fund.
Directs condominium and cooperative housing associations to complete capital reserve studies, including a thirty-year funding plan, in order to ensure that the condominium or cooperative housing association has adequate reserve funds available to repair or replace the assets located on the property that the association is obligated to maintain without the need to create any special assessment or loan obligation; specifies the content of the study; requires the study to be filed with the attorney general.
Establishes certain rights upon the expiration of ground lease residential cooperative apartment buildings.
Establishes certain rights upon the expiration of ground lease residential cooperative apartment buildings.
Requires that when a buyer enters into a contract to purchase a condominium or cooperative housing unit, the property management company or board of managers shall provide the buyer with records of the most recent inspection and engineering reports and permits for the subject property.
Extends protections to tenants of cooperative housing entities by expanding the definition of landlord to include cooperative entities; defines cooperative entities.
Requires that when a buyer enters into a contract to purchase a condominium or cooperative housing unit, the property management company or board of managers shall provide the buyer with records of the most recent inspection and engineering reports and permits for the subject property.
Management and Safety of Condominium and Cooperative Buildings