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What is a Proprietary Lease in New York? - Natalia A. Sishodia
From Sishodia PLLC – In this episode, we explore the key aspects of proprietary leases in New York City, answering the question, "What is a Proprietary Lease in New York?" A proprietary lease is a unique legal document that defines the rights and responsibilities of co-op shareholders, granting them the right to occupy a unit while adhering to the rules set by the cooperative board. We break down how this hybrid between a lease and a deed impacts ownership, maintenance obligations, and the overall co-op living experience.
Listeners will learn about the distinct differences between owning a…
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