Can I inherit my Grandmothers Bronx NY Co-op?
My grandmother is in her mid 80's and alive and well. Bought in to the co-op 30 plus years ago and is planning on staying put till her end days. I am wondering if there is an opportunity to inherit/buy the co-op from her at a discounted rate and profit from the deal. In no way do I want to take advantage of her but rather take advantage of the situation.
I am not familiar with the laws or contractual agreements when one purchases a co-op. I would imagine she has a right to sell and in reality could leave it to an heir if she chose to? If I did inherit it I assume I would be able to move in and continue paying at her rent controlled rate or sell it at todays market value?
Looking for any and all advice on the subject. Should I have my grandma get a copy of her contract? If so what should I look for in there? Without a will what will happen to her apartment?