Should Condo Associations Be Incorporated?

I had assumed that my condo association was an LLC or corporation but when I searched on the NY Dept of State website I couldn’t find it.  Are most small condos organized as an LLC or Corp to limit the liability of the individual owners?  Thanks.

dylan621

in Co-Op Related 12 years and 9 months ago

1

Please log in, in order to post replies!

1 replies

Newest Oldest

cm | 12 years and 9 months ago

string(1) "1"
object(WP_User)#4931 (8) {
  ["data"]=>
  object(stdClass)#4912 (12) {
    ["ID"]=>
    string(3) "665"
    ["user_login"]=>
    string(2) "cm"
    ["user_pass"]=>
    string(34) "$P$BswWLA.pKLv0d5CgHKQvWAVovFV4kC/"
    ["user_nicename"]=>
    string(4) "cm-2"
    ["user_email"]=>
    string(22) "cmorisi@spitzereng.com"
    ["user_url"]=>
    string(17) "/forums/users/cm/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:11:42"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(2) "cm"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(665)
  ["caps"]=>
  array(2) {
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(2) {
    [0]=>
    string(10) "subscriber"
    [1]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(4) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

New York condos are special status associations created under the Real Property Law. You may want to read the attached re individual unit owner liability. http://www.stroock.com/SiteFiles/Pub398.pdf