KING v. 870 RIVERSIDE DRIVE HOUSING DEVELOPMENT FUND CORP.

2998, 105298/08.

74 A.D.3d 494 (2010)

902 N.Y.S.2d 86

MARGARET E. KING, Respondent, v. 870 RIVERSIDE DRIVE HOUSING DEVELOPMENT FUND CORP. et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided June 8, 2010.


Plaintiff and her father acquired shares in the subject cooperative corporation, and entered into a proprietary lease with it in 1985. After her father's death, plaintiff sought to have his interests transferred to her. The proprietary lease provides that transfer of shares and assignment of the lease cannot take effect until authorized by the directors, either by resolution or by written consent of a majority, and that in the event of the death of a lessee shareholder, such...

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