Ownership of Cooperative Apartments and Condominiums by Trusts

The program will examine popular trust structures used to hold residential real estate and the associated tax implications, with a particular focus on how trust planning objectives intersect with the practical realities of New York cooperative and condominium ownership. Attendees will gain insight into specific trust tax strategies that optimize estate planning goals while preserving residential property ownership, as well as the ways in which trust ownership can affect transfer taxes, flip taxes, and eligibility for real estate tax abatements.

Topics will include ownership options and planning considerations, common board concerns, documentation requirements, and strategies for addressing objections that frequently arise when transferring ownership of a cooperative apartment. By the conclusion of the webinar, participants will have a clearer understanding of how to successfully navigate complex transactions involving cooperative and condominium properties owned in trust.