The Smart Way for Condo Boards to Handle Anonymous Buyers

Somewhere in New York City, a condo board found itself staring down a problem with no easy solution — an owner they knew almost nothing about, hiding behind an LLC, and a situation that was quickly becoming every board's nightmare. Leni Cummins, partner at Cozen O'Connor, walks through exactly how that kind of scenario unfolds, and more importantly, what boards can do before they ever find themselves in the same position. The conversation traces the issue from the moment an application lands on a managing agent's desk all the way to the moment a board realizes its options have nearly run out. What Cummins lays out is a practical framework that any condo board can adopt — without a bylaw amendment or a legal battle. If your building hasn't thought about this yet, it probably should. Habitat's Carol Ott conducts the interview.

The business of running a building is demanding work that requires making endless decisions — some that can quickly lead your board into a quagmire of legal difficulties. Legal Talk interviews New York's leading co-op/condo attorneys to find solutions, and get some guidance, on these challenges.  For more co-op and condo insights, sign up to receive Habitat's free newsletters or become a Habitat subscriber today!