What Happens when Apartment Co-op Owner Dies?
Dear InfoTube,
My Uncle, who owned a unit in a co-op apartment building, passed away recently. If the heirs decide they do not want to sell the unit, will they be allowed to stay there part time? Or, can they chose to live in the apartment if they wanted to?
Dear Niece,
Unfortunately, the answer to both of your questions is No. Under all proprietary leases, occupancy is limited to the shareholder, only. If a shareholder is deceased, no other person can live in the apartment without the consent of the co-op. When your Uncle was alive, he could ask family members and guests to stay in the apartment, but only if he was there, too.
If you decide to keep the apartment, the new shareholder of record will need approval from the co-op board before they occupy the unit. Even for a week or two.
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