Category Cooperatives
Loans, Mortgages, and Liens
by Bryan Lane Berson, Esq. Collateral is an essential component of loan transactions. Realty (i.e., real estate) or personalty (i.e., personal property) can serve as collateral. The creditor’s (i.e., lender) interest in the collateral depends on the transaction, loan, property, and law. The debtor (i.e., borrower) will acknowledge that it is conveying an interest to […]
Co-ops and Condos in New York: Comparing the Regimes
by Bryan Lane Berson, Esq. A. Introduction. Cooperatives (“co-ops”) and condominiums (“condos”) share some important similarities and have some distinct differences. This column discusses several basic issues that buyers and residents should be aware of. (I refer to the entity as a whole as a “co-op” or “condo,” a unit within an entity as an […]
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