What a Missing Stock Certificate Can Cost You

Losing a stock certificate sounds like a paperwork headache — until it threatens to derail a closing entirely. In this episode, Geoffrey Mazel, founding partner at Hankin & Mazel, talks about the unglamorous but essential mechanics of co-op share transfers. He's seen sellers arrive at the closing table without the paperwork they need, decades-old bank loans that seem to disappear into thin air, and family situations that quietly complicate who actually owns the shares. Mazel breaks down why these documents carry so much weight in a co-op sale, what can go wrong when they're missing or unclear, and the steps every shareholder should take long before they ever list their apartment. Board members will come away understanding why these "small" documents cause the biggest closing-day surprises — and how to help residents avoid them. 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!