What happens when a co-op’s proprietary lease expires?
Oct 12, 2023
If you’re a prospective co-op buyer, you’ve likely come across the term “proprietary lease” during your buying journey. You might be wondering what exactly it entails and why co-op boards seem so diligent in extending their expiration dates. First, let’s demystify the term. A proprietary lease is a legal document that grants a shareholder (you, […]