A Smarter Way to Handle a Problem Shareholder
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A Smarter Way to Handle a Problem Shareholder
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Dealing with a neighbor who stops paying maintenance is one of the most stressful situations a co-op building can face — and most people assume the only fix is a slow, expensive slog through housing court. Attorney Moshe Bobker, partner at Tane Waterman & Wurtzel, explains a little-known legal tool that's been quietly changing the way co-ops handle defaulting shareholders. It's faster, cheaper, and in many cases far more effective than anything a courtroom can offer. Bobker draws on real cases to explain how this strategy shifts the pressure in ways that get people to the table quickly — and why it's been gaining serious traction since the COVID era exposed just how broken the traditional process really is. Habitat's Emily Myers conducts the interview.
The business of running a building is demanding work that requires making endless decisions — some that can quickly lead your board into a quagmire of legal difficulties. Legal Talk interviews New York's leading co-op/condo attorneys to find solutions, and get some guidance, on these challenges. For more co-op and condo insights, sign up to receive Habitat's free newsletters or become a Habitat subscriber today!