Anonymous
Posted on: 09th Jan, 2009 08:33 am
Hi. I need to add my husband to a Coop that I own. Does he have to sign the Quitclaim deed in the state of NY? Does the coop have restrictions?
Yes, you can sign over a quitclaim deed and add your husband to the title of the co-operative. However, a grant deed would be an even better choice.
Typically ownership of a co-op is acquired through a proprietary lease, since you really don't "own" the home but rather shares of stock in the cooperative. Can a quit claim or grant deed even be used? It wouldn't make sense