Can a joint owner of co-op shares of a multi-family residential building transfer his interest without consent of the co-op board?
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Can a joint owner of co-op shares of a multi-family residential building transfer his interest without consent of the co-op board?
I am a joint owner (with right of survivorship) of coop shares of a multi-family residential building. Can the other owner transfer his interest without my consent?Does the other owner need the consent of the co-op board to transfer his ownership interest? If consent is required, in what form the does consent occur?What about if the transfer is stipulated in a will to occur at death? If it depends on the co-op bylaws what specific language would I need to look for?
Asked on July 29, 2012 under Real Estate Law, Florida
Answers:
david slater / david p.slater, esq.
Answered 11 years ago | Contributor
Yes and you would be owners as tenants in common with the new person. I would think the new owner must be acceptable to the Co op Board and give notice.
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