In 2009, Suffolk County passed the Suffolk County Cooperative Housing Law seeking to, among other things, “require cooperative boards or associations to give potential buyers written notice of the grounds for a rejection of a potential buyer’s application for purchase.” Continue reading “Refresher: Suffolk County Cooperative Housing Law”
Tag: Suffolk County law
Fairness in Cooperative Home Ownership
The Suffolk County Legislature recently passed a new Local Law entitled “A Local Law Requiring Fairness in Cooperative Home Ownership” that took effect on September 15, 2009 and was later amended, which amendment became effective on November 10, 2009.
A more appropriate name for the law would have been “Fairness in Purchasing a Cooperative Home” since the law deals with the application process. Most significantly, in the event a co-op Board of Directors denies an application to purchase a unit, the law requires the Board to notify the applicant, in writing, of the specific reason for the denial. Continue reading “Fairness in Cooperative Home Ownership”
