<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
Skip to content

NY condo needs association insurance funds to repair water damage


Question:

Under the loss payment provision concerning building insurance claim money received. In the condo in the five boroughs on NYC in New York. I am a condo owner without a mortgage that suffered a water casualty and the condo is unlivable.

The by-laws state the building is responsible for the prompt  repairs and if the insurance does not cover the cost of the repairs, a special assessment to the owners is in order.
The management company does not have a construction company.  The building insurer has paid The Sworn Statement of Loss proceeds to the management company including the owner work/displacement reimbursement. that said. 

The BOM and management company have not repaired the unit and have stalled on turning over any money for me to repair.  My lawyer wants to litigate.  Is there anything in the NY Condo Act, or the NY Insurance Act that the will help me without litigating...and I need the money to repair.


Answers (5)

What are your thoughts on this topic? Please share your answers below. We ask that you remain respectful of each other, and be advised that responses are monitored.