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Adding a Husband in the State to NY to a Coop

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Icon Mini Profile dizzy_1000





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Post Posted: Fri Jan 09, 2009 9:33 am    Post subject: Adding a Husband in the State to NY to a Coop
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Hi. I need to add my husband to a Coop that I own. Does he have to sign the Quitclaim deed in the state of NY? Does the coop have restrictions?
Icon Mini Profile Jessica
Jessica
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Post Posted: Mon Jan 12, 2009 6:06 am    Post subject:
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Yes, you can sign over a quitclaim deed and add your husband to the title of the co-operative. However, a grant deed would be an even better choice.
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Post Posted: Mon Jan 12, 2009 7:20 am    Post subject:
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Typically ownership of a co-op is acquired through a proprietary lease, since you really don't "own" the home but rather shares of stock in the cooperative. Can a quit claim or grant deed even be used? It wouldn't make sense
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