I Disagree with Changes Made to My Co-Op’s Occupancy Agreement, What Can I do?
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I am a shareholder of a Co-Op property. I complained that the occupancy agreement states (with regard to carrying charge adjustments) “No member shall be charged more than his/her proportionate share of the expenses” and the recent adjustment was clearly equal, not proportionate. My written complaint was delivered to the corporation’s attorney. I was told that the attorney concurs that the decision was appropriate. Is this really legal or do I have any options to challenge the decision? |
“I am a shareholder of a Co-Op property. In 2003, the board of directors voted to decrease all association dues by a 10%. Now they voted to increase them by a flat $15 for all shareholders, thus benefiting those with higher dues. As of a few years ago, the corporation paid back its mortgage and is no longer under HUD.
I complained that the occupancy agreement states (with regard to carrying charge adjustments) “No member shall be charged more than his/her proportionate share of the expenses” and the recent adjustment was clearly equal, not proportionate. My written complaint was delivered to the corporation’s attorney. I was told that the attorney concurs that the decision was appropriate.
Is this really legal or do I have any options to challenge the decision?”
You certainly have options to challenge the decision. You should check the governing documents of your co-op to see if there is an appeal or oversight process for your complaint. Failing that, you have the right to some sort of oversight–usually by a court, but your governing documents may require that you submit a controversy to mediation and/or arbitration.
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For more on this subject check out these categories: Settlements, Arbitration, Mediation
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State laws vary, and the above is intended as general advice, and not direct legal advice regarding any one particular situation in any one state. For direct personal legal advice related to your own situation you should consult an attorney familiar with the laws of your state and with your situation.