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Real Estate & Property Law

: New York City Landlord Tenant News

Q & A; Reviewing a Co-op Board's Power to Impose a Flip Tax

By By JAY ROMANO

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QDoes a co-op need approval from 100 percent of its shareholders to institute a flip tax? A Typically, no, said Stewart Wurtzel, a Manhattan co-op and condo lawyer. In fact, Mr. Wurtzel said, there are some co-ops whose governing documents allow the board to institute a flip tax -- or modify an existing tax -- without shareholder approval.

Full post as published by New York City Landlord Tenant News on January 17, 2008 (boomark / email).

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