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coops — Brooklynian

coops

As an out-of-stater thinking of buying up your way, I'm confused about this coop thing.
If I purchase a coop and get approved, do I have to live there myself. Or can someone in my family live there instead. Or does the person living there have to be the owner.
thanks.

Comments

  • I am surprised nobody helped you out yet. Coops set their own rules, but approving YOU ordinarily means that you and family/partner/mate can live there; i believe the law allows a roommate. Sometimes people buy for their adult children, silblings, parents, etc., but then the situation must usually be made clear up front and the family member approved. I know from experience in a small building that it is very desirable to have resident owners, not investors or far-away parents or absentee occupants of a pied a terre, if only to have the person ultimately responsible notice and care when the pipes freeze or something. Ask to see the proprietary lease and the house rules; that is just standard practice and common sense.
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