Shanghai center
Real Estate Q & A.
http://www.officebcs.com 商务中心资讯网
When a Sublet Tenant Has a Roommate
Q Can a tenant who sublets an apartment from a shareholder in a co-op have a roommate without the co-op board’s approval?
A Stuart M. Saft, a Manhattan lawyer who is the chairman of the Council of New York Cooperatives and Condominiums, said that generally, under the state’s Real Property Law, a rental tenant is permitted to have immediate family members and one additional occupant — or roommate — in a rental apartment.
Mr. Saft said that while board approval may be necessary for a shareholder to sublet an apartment — the requirement would be contained in the co-op’s proprietary lease — once subletting is permitted, the law would allow that subtenant to have a roommate. For condos the story might be different: he noted that in at least one state Supreme Court case, in the Bronx, the court did not allow the tenant of a condo owner to have a roommate.
Giving Notice Without a Lease
Q My one-year lease expired in August 2009. The landlord was trying to sell the condo I was living in. My roommate and I discussed renewing the lease, but the landlord was not interested in case he found a potential buyer, so we have continued living there on a month-to-month basis. I now want to move out. Can I give a 30-day notice on any calendar day regardless of when the original lease began or when the rent is due? Am I obligated to give notice to the landlord?
A “The answer to the question will depend on where the letter writer lives,” said Glenn H. Spiegel, a Manhattan real estate lawyer.
Tenants living in unregulated apartments without a lease are typically viewed as month-to-month tenants, whose occupancy may be ended by a landlord on as little as 30 days’ notice.
For their part, however, month-to-month tenants living in the five boroughs of New York City are under no obligation to give any advance notice of departure.
For such tenants living elsewhere in the state, Mr. Spiegel said, oral or written notice to the landlord is required 30 days before vacating. Without it, they could be liable for an additional month’s rent.
Understanding Rules for Capital-Gains Tax
Q I just sold an apartment that was given to me, and I am looking to buy a home. I was told that in order to avoid capital-gains tax, I need to reinvest an amount equal to or greater than the sale amount within a certain time period. How does this work?
A Martin B. Miller, a Manhattan tax lawyer, said that the writer appears to be talking about a tax law from several years ago. Under that law, a person who sold a principal residence could defer paying taxes on the gain by buying a new principal residence for an equal or higher amount within two years of the sale of the old one.
Under the current law covering sales of principal residences, Mr. Miller said, an individual can exclude up to $250,000 in gain on a sale (or $500,000 for a married couple filing a joint tax return) if the sold home was used as the principal residence for two out of the five years preceding the sale.
If the writer used the property as her principal residence for the required time period, she could avoid paying capital-gains tax. 
Copyright © 2009-2020,officebcs.com