Sentence examples for plan conversion from inspiring English sources

Tenants in a noneviction plan conversion, Mr. Saft said, most likely have little to lose and much to gain.

Under an "eviction plan" conversion, Mr. Ferrara explained, nonpurchasing tenants can be evicted when their current leases expire or three years after the conversion, whichever is later.

"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.

The owner replied that the building became a co-op pursuant to an "eviction plan conversion" and that the only party entitled to protection is the senior who was living there at the time of the conversion.

Under a noneviction plan conversion -- the type most commonly used in New York -- the sponsor needs subscriptions for the sale of at least 15percentt of the apartments in the building for the conversion to go forward.

Rent-regulated tenants who do not buy their apartment under a noneviction plan conversion, Mr. Brucker said, are entitled to remain and must be offered renewal leases as rent-stabilized tenants.

In fact, he said, in noneviction plan conversions -- the most commonly used in New York -- rent-regulated tenants have the right to remain in their apartments indefinitely.

Plan conversions typically mean less money for workers close to retirement and have been the subject of a rash of lawsuits.

Yes, if the issue is cash-balance pension plan conversions.

Robert Sokolski, a Manhattan lawyer who represents tenants, said that in a noneviction-plan conversion, tenants in occupancy at the time of the conversion must be allowed to remain.

Mr. Saft said that with an eviction-plan conversion -- in which nonpurchasing tenants can be evicted when their current leases expire or a year after the conversion, whichever is later -- a sponsor needs to sell 51percentt of the units in a building before the conversion can be declared effective.