[Download] "Dan Fe Bland v. Two Trees Management Co. Et Al." by Court of Appeals of New York * eBook PDF Kindle ePub Free
eBook details
- Title: Dan Fe Bland v. Two Trees Management Co. Et Al.
- Author : Court of Appeals of New York
- Release Date : January 19, 1985
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 69 KB
Description
[66 N.Y.2d 556 Page 559] Opinion OF THE COURT A fee on the transfer of shares in a cooperative apartment corporation (commonly called a flip tax) may not be imposed by the corporation's board of directors, when the bylaws of the corporation authorize the board to impose on such a transfer and assignment only a reasonable fee to cover actual expenses and attorneys' fees of the Corporation, a service fee of the Corporation and such other conditions as it may determine. Nor may a flip tax which is not in proportion to the shares held by the assignor be imposed under either the cash [66 N.Y.2d 556 Page 560]
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