Tag Archives: commercial real estate coop

NEW YORK COURT RE-EXAMINES LEGAL FEES RECOVERY IN CO-OP LAWSUITS

In a recent article that appeared in Habitat Magazine, the Appellate Division of New York, determined that a proprietary lease which provides for the payment of legal fees to a co-op even regardless of the outcome of the lawsuit, is unenforceable. The result may have consequences for all cooperative corporation’s that bill back their shareholders.