Steve Troup Authors Article for Habitat Magazine on Rights of Shareholders and Unit-Owners to Inspect Books and Records

December 8, 2017

Steve Troup authored the article, “When Owners Want a Peek Behind the Curtain… Make Sure Nothing Scandalous Gets Out” for Habitat magazine. In the article, Steve explained that there are documents that must be turned over to shareholders or unit-owners of co-ops or condos if requested in good faith. He addressed that co-ops and condos have been treated similarly, even though a condo is actually not covered by the statute. Steve also provided examples of cases in which courts have held in favor of the shareholder or unit-owner and gives examples of the types of documents that had to be provided. He explained the importance of revisions to a proprietary lease or condominium bylaws to take into account the reviewable documents and to set forth what the court states is legally reviewable. To read the full article, click here.

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