The Cooperator published an article in January 2014 describing the role of attorneys for cooperative or condominium corporations.
A cooperative and condominiums attorney’s role should be keeping litigation at bay and making sure all organizational and contractual documents are negotiated and executed properly. The goal is to find an attorney who will manage legal matters most important to the cooperative or condominium corporation. In each case or situation, the cooperative or condominium attorney must be prepared to represent their client in a wide variety of scenarios.
When examining a counsel’s role focus should be on the actual structure for the cooperative and condominium. The cooperative and condominium attorney makes sure that the proper documents, rules and regulations, amongst other things, are properly formatted, disclosed and understood. It is important that cooperative and condominium board consults with their counsel to ensure that vendor contracts with the cooperative or condominium corporation contain the proper protections. The proper protections ensure that boards will not be held personally liable, amongst other things. For example, it is important that vendor contracts require proof of the existence of the appropriate insurance, naming the cooperative or condominium corporation and its managing agent as Additionally Insureds.
As an attorney plays a major role in working with their clients, major factors of trust, reliability and compatibility are key to building a relationship. In order for cooperative or condominium business things to run smoothly, all communications and agreements must be honestly disclosed, properly written and of course understandable.
Source The Cooperator -The Coop & Condo Monthly. “The Role of the Counsel” by Lisa Iannucci. Jan. 2014