Solved

Craig Owns Shares in a Cooperative and Leases an Apartment

Question 18

Essay

Craig owns shares in a cooperative and leases an apartment from the cooperative. Craig wants to sell his shares and assign his lease to the new owner. The cooperative's board of directors tells Craig that he cannot do this unless they approve the new owner. Can the board legally do this?

Correct Answer:

verifed

Verified

Yes the board probably does have the rig...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q13: A condominium declaration and plat must be

Q14: Most condominium declarations require that fire insurance

Q15: Condominium owners have joint and several liability

Q16: Stefanie owns a condominium unit. Each month

Q17: Condominium declarations usually contain comprehensive restrictions on

Q19: Taxes on individual condominium units are paid

Q20: In most states, a time-share purchaser is

Q21: Cooperatives are generally owned by a cooperative

Q22: Brett and Jackie went to a time-share

Q23: An enclosed backyard in a condominium development