What is HDP Related to a Coop Building?
What does it mean when there are HDP violations for a coop building? This is related to a single unit that has a tenant and a sponsor. What questions should I be asking my attorney and the board about this as we consider buying another unit in the building? I am trying to figure this…
What does it mean when there are HDP violations for a coop building? This is related to a single unit that has a tenant and a sponsor. What questions should I be asking my attorney and the board about this as we consider buying another unit in the building?
I am trying to figure this out online but perhaps some kind Brownstoner would help me figure it out faster. Thanks.
You mean HPD ?
it means that it has to be fixed either by the building(probably) or by the owner of the SHARES of the particular apartment depending on the lease and the by-laws. But the responsibility stills rest with the corporation that owns the building. Remember legally, a coop is merely a rental building owned by the cooperators who own the shares in the building corporation. You also get a lease that allows you to use your apartment.