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Cooperative Program Household Information Form Privacy Statement The information provided in this form is handled in accordance with the relevant Commonwealth and State privacy legislation: the Privacy.

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Cooperative apartment buildings in New York governed by Mitchell-Lama Rules are required to ensure residents' compliance with the rules. Akin to rent stabilization and rent control laws, shareholders must primarily reside in the apartment and may not generally sublet their apartment.

The specific not-for-profit design and the government supports of tax exemption and beneficial loans are the reasons that Mitchell-Lama cooperatives have rightly been called the most affordable of the affordable housing programs.

All tenants in HCR supervised Mitchell-Lama developments are required to report their income, and the income of all household members, annually and to comply with housing company requests for documentation. Tenants in federally-assisted developments are subject to HUD's annual income re-certification requirements.

If you are identified in a will as the sole beneficiary of someone who lived in a Mitchell Lama co-op, you don't get the right to live in the apartment unless you can meet the succession requirements. Neither do you technically inherit shares in the building.

Income Limits for Section 8 in California Family Size30% of Median Income80% of Median Income1$21,750$58,0002$24,850$66,2503$27,950$74,5504$31,050$82,8001 more row • Mar 28, 2023

In Mitchell-Lama co-op apartments, the shareholder is viewed strictly as a tenant, and the apartment's sale is governed by the corporation and by state law. As such, the decedent's next of kin or executor is not entitled to sell the apartment.

Under the Rent Stabilization Code and Mitchel Lama laws, qualifying family members may have a right to retain in the apartment, provided that they have resided with the tenant of record for a period of two years or more before the tenant's permanent vacatur of the apartment or two years prior to their death.

The Mitchell-Lama program provides affordable rental and cooperative homeownership opportunities to families with moderate and middle incomes. You have to apply to each development waiting list separately. Apply to ones that fit your income, household size, and preferences. Applicants may apply to open waiting lists.

Income limits for a co-op apartment range anywhere between $79K and $149K, while rental restrictions range from $50K to $95K. (If you're living in a Mitchell-Lama apartment and your household income begins to exceed the maximum income limit, you have to pay an extra surcharge.)

Income Limits Household Size2023 Income LimitsFederally Assisted RentalNon-Federally Assisted1$79,120$123,6252$90,400$141,2503$101,680$158,8755 more rows

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232