Recent rulings you need to know.
Co-Op Board's Conditions on Approval Entitle Purchaser to Deposit
Sit v. Schnaps
NYLJ 2/23/05, p. 2., col. 3
Supreme Ct., Queens Cty
(Taylor, J.)
In an action by co-op purchasers to recover a down payment, both the purchasers and the seller sought summary judgment. The court granted the purchasers' summary judgment motion, holding that the conditional approval of the co-op board did not constitute approval within the meaning of the sale contract.
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