Insufficient Evidence That Flip Tax Was Validly Enacted
Norton v. 360 Riverside Owners Corp.
NYLJ 12/27/11 In an action by sellers of co-op units to recover flip taxes paid to the co-op upon sale, the co-op moved to dismiss the complaint and the sellers cross-moved for summary judgment. The court refused to dismiss the complaint, holding that co-op had not furnished sufficient evidence to establish that the flip tax had been validly enacted. One set of sellers initially moved into the
Supreme Ct., N.Y. Cty.
(Ling-Cohen, J.)
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