Leni Cummins Discusses Allocation of Common Expenses in Cooperatives

Saturday, February 20, 2016

Leni Cummins, member of Cozen O’Connor’s Real Estate practice group, discusses the challenges facing boards and shareholders regarding the allocation of cooperative common expenses in The New York Times and Habitat. Shareholders and boards of both cooperatives and condominiums constantly face difficulties in determining who should pay for what.  What is right is not always what is fair and past wrongs do not make future misallocation of expenses right. In particular, how condominium and cooperative declarations and bylaws are drafted will dictate proper allocations, assuming they are clearly drafted. According to Leni, “Life’s not always fair in a cooperative.”

To read the full article click here.
 

Contacts

Leni Morrison Cummins

Member

lcummins@cozen.com

(212) 883-4954

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