Dennis Greenstein Quoted in The New York Times
“Transferring a Co-op to a Sibling”

Dennis Greenstein was quoted in the real estate Q & A column of The New York Times on April 10, 2009 in the article “Transferring a Co-op to a Sibling.” The letter writer inquired about transferring ownership of his co-op to his sister, who has been paying both the maintenance and share loan, since he was unable to afford it. Dennis noted that leases vary and most require the consent of the board to transfer ownership of the apartment. He explained, “The board can consent to or reject a request to the transfer for any reason or for no reason,” except out-and-out discrimination. Dennis also noted that if the lease did not provide for the right to transfer the apartment to an adult sibling without the board’s consent and the board declined the request, his sister might be able to claim she had a right to continue to live in the apartment. Since she had occupied and paid maintenance on the apartment for two years, Dennis concluded that the board might consider that favorably.