Roundup: Recent & Pending Legislation

Like the physical neighborhoods around them, the legislative and legal landscape surrounding New York's co-op and condo communities is constantly evolving. While some changes are hailed as wins for boards and the residents they govern, others are seen as burdensome and overreaching. Because of the profound impact legislative changes can have on co-op and condo communities, it's incumbent on not just attorneys, but also on boards and managers to stay abreast of what's going on in Albany and City Hall, and to take the steps necessary to keep their communities compliant. Not doing so can be costly, in terms of potential litigation, liability exposure, and potential fines.

Here's a quick look at some recent and proposed legislation in New York directly impacting co-ops and condos: