If I co-signed for my parents co-op loan37 years ago, am I still liable for any of their co-op board charges?

 The co-op is in my parents names only.

Asked on February 28, 2012 under Real Estate Law, New York


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

My understanding of your question is as follows: you co-signed the loan for the bank but are not on the shares as shareholders, correct?  Then the bank has a right to go after you for any default but the co-op can not as you do not technically hold the shares.  Get clarification from some one that can read the documents involved. Good luck.

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