Legal Question in Real Estate Law in New York
Can I transfer my mom's co=op shares to my name with a quit deed?
Asked on 10/27/12, 7:24 am
2 Answers from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
I do not know what are the requirements or restrictions in the By-Laws, which have to be checked. If you meet the requirements, a quit-claim Deed should be sufficient.
Answered on 10/27/12, 10:47 am
Kevin Connolly
Kevin J. Connolly
No. You don't transfer a coop by deed. You transfer the shares and appurtenant lease. But you can't do it unless you comply with the coop's bylaw. This is especially true if it's a Mitchell-Lama cooperative. It's probably worth paying a lawyer a few hundred dollars to guide you through the maze.
Answered on 10/27/12, 2:56 pm
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