by Debra Guzov | Real Estate Legality, Real Property
Shareholders and owners of co-op and condo units pay maintenance fees (or common charges) every month, but what are these payments going to and how can board members safeguard these funds? Co-op and condo boards owe shareholders and unit owners a fiduciary duty to...
by Debra Guzov | Real Estate Developments, Real Estate Legality, Real Property
On December 12, 2015, 197 nations, party to the United Nations Framework Convention on Climate Change, entered into the Paris Agreement in an effort to reduce climate change emissions, maintain the global temperature, and increase green energy sources. After coming...
by Debra Guzov | Guzov's Good Advice, Other, Real Estate Legality
In past posts we have talked about how to deal with co-op and condo renovations, so that you or neighbor can enjoy those new bathroom fixtures, but with all construction comes the chaos, the noise and debris. When does the noise from construction become unreasonable?...
by Debra Guzov | Guzov's Good Advice, Real Estate Developments, Real Estate Legality
Renovations in condos and co-ops are common, especially for growing families. Board members inevitably will have to deal with a stream of renovation and alteration requests throughout their seat. How can a co-op or condo board ensure that construction runs smoothly in...
by Debra Guzov | Guzov's Good Advice, Real Estate Legality
The business judgment rule, adopted from commercial law, permits co-op and condo boards to make decisions without the fear of judicial inquiry. In the 1990 case Levandusky v. One Fifth Ave. Corp. the court held “[i]t is well settled that the business judgment rule...
