Real Estate Finance Oversight
The Attorney General's guidance states that its regulations govern the offer and sale of interests in cooperatives and condominiums and that its Real Estate Finance Bureau reviews offering plans to ensure compliance with those regulations and the Martin Act. The AG also draws a distinction between sponsor sales (regulated) and resales by unit owners (generally not regulated by AG offering plan rules).
- Where it applies
- New York State
- When it comes up
- Sponsor sale lifecycle; complaint review
- Property types
- Co-op and condo sponsor offerings
Co-op Governance
- Co-op Board (Board of Directors)
- Cooperative Corporation (Co-op)
- Flip Tax (Co-op Transfer Fee)
- Maintenance (Co-op)
- Offering Plan (Co-op/Condo Sponsor Sales)
- Proprietary Lease
- Resale (Co-op/Condo)
- Shares (Co-op)
- Sponsor (Co-op/Condo)
General information, not legal, tax or financial advice.