Legal Question in Real Estate Law in New York
Assesment check collected, no job done few years later!
I am a member of a NY co-op. Few years ago our board demanded a payment for renovating the hallways (painting) yet the job was never done. Question: Can the board collect money for one purpose and spend it on another without seeking the approval or reconiciling the amounts? What, legally speaking, chances would I have in requesting the repayment of the aforementioned funds (over 1K). Also, the board continuosly says they are ''just about'' to start the painiting, yet it never happens.
Thank you.
1 Answer from Attorneys
Re: Assesment check collected, no job done few years later!
As a shareholder you are entitled to ask and receive all the documentation pertaining to the coop operation. This means that you review the documents to make sure that the money were spent accordingly.
If you feel that board or management do not fullfill their duties - you can review bringing a legal action.
You can contact our firm if you need further assistance.
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