Legal Question in Real Estate Law in New York

Hello, I live in condo building that has 14 units. Recently we had problem with our elevator and it needs a major repair. The association doesn't have money to pay for repair, so it decided to collect money from the owners to pay the bill. This is one time payment. My question is: How by law a special assessment is calculated for each units ? Should it be equal amounts or it is based on percent of ownership?


Asked on 1/25/13, 8:03 am

1 Answer from Attorneys
Anna feldman Law office of Anna Feldman

This answer would depend on the provisions in your condo book. Usually it would state how assessments shall be apportioned. If there is no such provision, you and your neighbors can decide that at the meeting of the entire building.

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Answered on 1/25/13, 8:49 am


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