Legal Question in Family Law in New York

co-op apt./divorce/3rd party(me)

my sibling and i shared a co-op apt in my sibling's sole name. that sibling got married and moved out while i stayed (without officially transfering the shares to me). i dont know the state of the marriage, but i'm worried that if there's a divorce, my sibling's spouse is entitled to a portion of the co-op shares of what is ostensibly now my apt. is it too late to transfer the shares to me entirely or is that even necessary?


Asked on 11/24/08, 1:10 pm

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Re: co-op apt./divorce/3rd party(me)

If you do not own shares of the cooperative, you do not have an ownership interest.

To have an ownership interest, the shares must be transferred into your name. Transfer of the shares into your name may be done at any time.

Mike.

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Answered on 11/24/08, 1:14 pm


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