What is the name of your state?NYC
I live in a major complex that was converted two years ago to what was advertised as a condominium conversion. At a recent board meeting the president (who was put in by the sponsor) tells us that we aren't a condominium but a corporation due to the fact that the percentage of livable space is 5% below the total amount of space you need to be a condominium. There is too much commercial space in our building.
My question is: was it legal that the sponsor pushed this through as a condo when they knew it wasn't. Is it legal to do that? And if it isn't legal then is the present condo board legal. What recourse or action can the building take.
Thanks
Rob
I live in a major complex that was converted two years ago to what was advertised as a condominium conversion. At a recent board meeting the president (who was put in by the sponsor) tells us that we aren't a condominium but a corporation due to the fact that the percentage of livable space is 5% below the total amount of space you need to be a condominium. There is too much commercial space in our building.
My question is: was it legal that the sponsor pushed this through as a condo when they knew it wasn't. Is it legal to do that? And if it isn't legal then is the present condo board legal. What recourse or action can the building take.
Thanks
Rob