Indiana Notice to Lessor of Exercise of Option to Cancel Proprietary Lease of Cooperative Unit

State:
Multi-State
Control #:
US-1231BG
Format:
Word; 
Rich Text
Instant download

Description

Unlike a condominium, cooperative units are owned by a corporation. This means, when you buy an apartment unit that is in a cooperative building, you are not actually buying real property (like you would in a condominium).

How to fill out Notice To Lessor Of Exercise Of Option To Cancel Proprietary Lease Of Cooperative Unit?

You can invest several hours online looking for the legal document template that meets the federal and state requirements you seek.

US Legal Forms provides thousands of legal documents that are assessed by professionals.

It is easy to obtain or print the Indiana Notice to Lessor of Exercise of Option to Cancel Proprietary Lease of Cooperative Unit from our services.

If available, use the Review option to view the document template simultaneously.

  1. If you already possess a US Legal Forms account, you may Log In and select the Acquire option.
  2. Afterward, you may complete, modify, print, or sign the Indiana Notice to Lessor of Exercise of Option to Cancel Proprietary Lease of Cooperative Unit.
  3. Every legal document template you purchase is yours for a lifetime.
  4. To obtain another version of a purchased form, go to the My documents tab and click the relevant option.
  5. If this is your first time using the US Legal Forms website, follow the simple instructions below.
  6. First, confirm that you have chosen the correct document template for your area/city of preference.
  7. Review the form description to ensure you have selected the correct type.

Form popularity

FAQ

A proprietary lease is an agreement that grants shareholders in a co-op the right to live in a particular apartment space. Also known as occupancy agreements, proprietary leases stake out the rights and responsibilities of shareholders and the cooperative corporation's board of directors.

A proprietary lease, also referred to as an occupancy agreement, gives a shareholder in a housing cooperative the right to occupy a particular dwelling unit.

Assignment of Proprietary Lease means the specific agreement creating a first lien on and pledge of the Co-op Shares and the appurtenant Proprietary Lease securing a Co-op Loan.

Will the co-op renew my proprietary lease? a proprietary lease that expires in under 30 years may cause problems with potential lenders. As a result, the co-op board extends the lease to keep the maturity between 30 and 50 years.

A proprietary lease is an agreement that grants shareholders in a co-op the right to live in a particular apartment space. Also known as occupancy agreements, proprietary leases stake out the rights and responsibilities of shareholders and the cooperative corporation's board of directors.

Each co-op owner either holds shares in the association just like owning shares in any other corporation or, if there are no shares, has what is known as a proprietary lease. That lease spells out the rights and responsibilities of the owner, as well as the obligations and duties of the association.

Definition: a written lease in a cooperative apartment building, between the owner/corporation and the tenant/stockholder, in which the tenant receives the right to occupy a particular unit.

An assignment is when the tenant transfers their lease interest to a new tenant using a Lease Assignment. The assignee takes the assignor's place in the landlord-tenant relationship, although the assignor may remain liable for damages, missed rent payments, and other lease violations.

Trusted and secure by over 3 million people of the world’s leading companies

Indiana Notice to Lessor of Exercise of Option to Cancel Proprietary Lease of Cooperative Unit