Can a joint owner of co-op shares of a multi-family residential building transfer his interest without consent of the co-op board?

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Can a joint owner of co-op shares of a multi-family residential building transfer his interest without consent of the co-op board?

I am a joint owner (with right of survivorship) of coop shares of a multi-family residential building. Can the other owner transfer his interest without my consent?Does the other owner need the consent of the co-op board to transfer his ownership interest? If consent is required, in what form the does consent occur?What about if the transfer is stipulated in a will to occur at death? If it depends on the co-op bylaws what specific language would I need to look for?

Asked on July 29, 2012 under Real Estate Law, Florida

Answers:

david slater / david p.slater, esq.

Answered 8 years ago | Contributor

Yes and you would be  owners as tenants in common with the new person. I would think the new owner must be acceptable to the Co op Board and give notice.


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