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Setting Condominium Assessments: Limits on Board Power
When a condominium incurs costs for repairs of common areas, how much discretion does the condominium board have in allocating those costs? In Board of Managers of Bayside Plaza Condominium v. Mittman, Queens County Supreme Court held that the condominium bylaws imposed significant constraints on the board's power, rejecting the board's argument that the validity of its decision should be measured against the business judgment rule.
The Bayside Plaza Case
Bayside Plaza Condominium consists of a nine-story building with 47 residential units, five street-level commercial units, 16 commercial parking space units, and 34 residential garage units. When it appeared that the parking deck (on which the commercial parking space units were located) needed renovation work to maintain its structural integrity, the condominium board entered into a contract to do the necessary work at a cost of about $400,000. The question, then, was how to apportion the costs of the project. The board, dominated by the residential unit owners, decided not to impose an across-the board assessment, but instead to impose a special assessment that varied with the type of unit.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
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Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
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