[Fredslist] Re: Real Estate 101

[JADLER115 at aol.com]

I have just received a clarification of a statement I made in today's Real 
Estate 101.  And I think it is important that you receive this note from a 
member of Gotham and a lawyer.  
 
 
    A co-op purchase is the purchase of stock in a corporation which owns 
real estate.  The corporation then leases to the stock holder an apartment whcih 
is "appurtenant" to his ownership interest as a shareholder.  So, the stock 
certificate evidences ownership and the lease conveys a right of possession.    
 
Thank you, Tom Kass.
 
 
Janet Adler Realty, Ltd

1 212 427 3809
1 917 834 2246



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