Prospective Purchaser of Co-op Apartment Cancels Sale, Downpayment Returned
In Supreme Court, Westchester County, the court granted summary judgment to our client, prospective purchaser of a cooperative apartment, who sought the return of her downpayment from the prospective seller. The board of the cooperative had approved the purchase by plaintiff, but only if plaintiff added her parents to the share certificates as owners. The conditional nature of the board's approval compelled a return of the downpayment to plaintiff. This case has been the topic of professional commentary. See, e.g., S. Mollen, Real Estate Law Digest, New York Law Journal (Sept. 11, 2019). See Paradise v. Wood.