13 Multiple Unit Housing Regulations
Age of Structure | Percentage of Interest Held by Owners |
|---|---|
30 years | 70% |
40 years | 60% |
50 years | 50% |
60 years | 40% |
70 years | 30% |
For purposes of this section, multiple owners of a single unit shall not be deemed possessed, in the aggregate, of any greater interest in the common area or in the cooperative housing corporation than that possessed by a single owner of a unit. |
This subsection shall only apply to the conversion to congregate use of a multiple family residential structure consisting of five or more units. |
13 Multiple Unit Housing Regulations
Age of Structure | Percentage of Interest Held by Owners |
|---|---|
30 years | 70% |
40 years | 60% |
50 years | 50% |
60 years | 40% |
70 years | 30% |
For purposes of this section, multiple owners of a single unit shall not be deemed possessed, in the aggregate, of any greater interest in the common area or in the cooperative housing corporation than that possessed by a single owner of a unit. |
This subsection shall only apply to the conversion to congregate use of a multiple family residential structure consisting of five or more units. |