Home Buying in 10022>Question Details

064127951, Home Seller in 10022

i purchased a coop and i have no paperworl prove ownership..what do i have to do?

Asked by 064127951, 10022 Mon Jul 13, 2009

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Did you purchase this without an attorney? Who did you purchase it from?
0 votes Thank Flag Link Tue Jul 14, 2009
You would not have a deed like you would with a house or condo, but you own shares in a corporation and have a proprietary lease to your apt. Your building's managing agent has all the co-op's records. The co-op also sends you yearly statements for your taxes. If you have a mortgage, the bank holding your mortgage would have the stock certificate. You can show you own it by the fact that you are paying maintenance to the corporation. For what purposed do you need to prove ownership? Are you thinking you need to show something because you want to sell it?
0 votes Thank Flag Link Tue Jul 14, 2009
Hello Home Seller

The bank that you received your mortgage from gets the share certificate and gives it to you only after the lein is completely satisfied. In the event that you did misplace this certificate, the board that manages your co-op should be able to give you a duplicate share certificate. Good luck with your sale.

If there is any way that I can help, please do not hesitate to contact me...

Anoop Punjabi
Halstead Property LLC
Tel: (212) 317-7844
Email: apunjabi@halstead.com
0 votes Thank Flag Link Mon Jul 13, 2009
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