Legal Question in Real Estate Law in New York

I want to sub-let my apartment to my nephew, but the co-op by-laws will only allow me to sell. If I �sell� (actually �loan�) the apartment to him for an amount he can afford (way below market), can I have a separate contract with him to sell it back to me for the same amount in the future, say in five years?


Asked on 5/23/12, 6:19 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

As long as these agreements do not violate the By-Laws of the Coop, I see no problem. It does sound like you are trying to subvert the By-Laws, so while these agreements are legal, you do so at your risk.

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Answered on 5/23/12, 8:58 am


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