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

064127951
Home Seller
10022

Answers (3)
Jolie MussNYC/M...
Broker
Upper West Side, New...

06,
Did you purchase this without an attorney? Who did you purchase it from?

Tue Jul 14 2009, 15:55
Jenet Levy
Agent
New York, NY

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?

Tue Jul 14 2009, 13:11
Anoop Punjabi
Agent
New York, NY
FIRST ANSWER

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...

Sincerely,
Anoop Punjabi
Halstead Property LLC
Tel: (212) 317-7844
Email: apunjabi@halstead.com

Mon Jul 13 2009, 11:37

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