Lost Stock and Lease Certificate

In the process of selling our co op – the bank lost our stock and lease certificate. Our lawyer ordered a new one and it has taken a very long time – over 30 days. Has anyone had a similar experience or have any tips on ways to expedite this? I’m hanging on a thread here as buyers are threatening to find ways to back out of contract.

sterlingbk

in General Discussion 8 years and 9 months ago

1

Please log in, in order to post replies!

1 replies

Newest Oldest

dorkofwindsor | 8 years and 9 months ago

string(1) "1"
object(WP_User)#5003 (8) {
  ["data"]=>
  object(stdClass)#5020 (12) {
    ["ID"]=>
    string(6) "176774"
    ["user_login"]=>
    string(13) "dorkofwindsor"
    ["user_pass"]=>
    string(34) "$P$Bov.472kQmY8OGlKN.dDXa5nt5gnOG0"
    ["user_nicename"]=>
    string(13) "dorkofwindsor"
    ["user_email"]=>
    string(23) "dorkofwindsor@yahoo.com"
    ["user_url"]=>
    string(28) "/forums/users/dorkofwindsor/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:25:48"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(13) "dorkofwindsor"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(176774)
  ["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)
}

So bank needs to provide affidavit that they lost docs, and needs to indemnify the co-op for any potential claims if someone finds documents and claims ownership. In the banking world, with lawyers / docs involved, and co-op boards that have their own lawyers, 30 days does not sound like a “long time”. you should to follow up religiously and get to the right person @ bank and let them know sale is pending. Find out who is handing for the board, and act as facilitator. Let bank know any oversight could cost a loss and threaten that you will hold them liable. The usual i suppose. Good luck,