Legal Talk for Co-ops and Condos
Legal Talk for Co-ops and Condos
Legal Talk by Habitat Magazine
The Secret Weapon Against Difficult Sponsors
9 minutes Posted Mar 17, 2025 at 4:00 am.
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Send us a text Think your co-op board is powerless against holders of unsold shares? Think again. When sponsors dismiss safety concerns by claiming special privileges, boards actually have significant legal leverage. In this episode, Bruce Cholst, partner at the law firm Herrick Feinstein, reveals how to use the "covenant of good faith and fair dealing" doctrine that can protect your building even when sponsors are technically exempt from rules. Habitat’s Carol Ott conducts the interview. Th...