Long-Term Resident Is Shareholder Entitled to Proprietary Lease
LVT Number: #24804
Tenant sued cooperative corporation, seeking a declaration that he was a shareholder entitled to a proprietary lease. Tenant moved into the building in 1982. In 1984, the building converted to cooperative ownership. Tenant claimed that he purchased his apartment by paying a $250 fee to the corporation's agent. In 1991, tenant was elected to the co-op's board of directors and served as secretary on the board for 10 years. Tenant was very active in the affairs of the corporation.