Sentence examples for building is converted from inspiring English sources
Those documents, she said, are used when a building is converted to or constructed as a co-op or condominium.
When a building is converted to a co-op or condo, however, things can be a little different.
A. Yes, because a rent-stabilized tenant's rights remain largely unaffected when a building is converted to a condominium, said Leni Morrison Cummins, a Manhattan real estate lawyer.
Mr. Jacobs says some courts have ruled that after the building is converted, the holder-of-unsold-shares status is determined solely by the co-op's governing documents, which may modify some of the above requirements.
"This situation involves the exemption from eviction that nonpurchasing senior citizens can obtain when a rental building is converted to a co-op or condominium under an eviction plan conversion," Mr. Belkin said.
"Once the building is converted, and the letter writer elected to become an owner, all of her rights and obligations became governed by the bylaws and the proprietary lease," he said.
