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Co-op Sale Contracts: Allocating the Risk of Potential Co-op Board Interference

When may a coop buyer escape from a sale contract based on erroneous statements made by the coop board that would, if accurate, interfere with the buyer's right to occupy space associated with the coop shares the buyer has contracted to purchase? The First Department recently faced that issue.

12 minute read June 02, 2015 at 12:00 AM
By
Stewart E. Sterk
Co-op Sale Contracts: Allocating the Risk of Potential Co-op Board Interference

When may a coop buyer escape from a sale contract based on erroneous statements made by the coop board that would, if accurate, interfere with the buyer's right to occupy space associated with the coop shares the buyer has contracted to purchase?

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