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Co-op City Times / July 4, 2020
Riverbay’s Succession Rights summarized for clarity
Riverbay Corporation has summarized the Division of Housing and Community Renewal’s (DHCR) rules and regulations on succession rights to avoid confusion or misunderstanding. DHCR has specific rules governing the transfer or assumption of ownership of apartments within Mitchell-Lama developments, which are spelled out in 9NYCRR Part 1727-8.1. According to the Riverbay Legal department, the Succession Rights Policy is intended to help a cooperator be aware of the protection provided to a family member or a ‘life companion’ in the event a cooperator moves or die. DHCR regulations provide that eligible persons may continue to live in an apartment after the death or move-out of the cooperator. Our policy follows DHCR rules and explains succession rights to Co-op City residents. It should be noted that while new ownership can only be assumed in cases of move-out or death, only persons who meet all of the regulatory requirements may obtain leases and stock certificates in their own names as successors. According to the rules and regulations, succession of an apartment can only take place if the primary owner of the apartment moves out or passes away. As a general rule, whenever there is a change in the number of persons living in the apartment, Riverbay should be notified within ninety (90) calendar days of any such changes through the use of an Interim Affidavit Form, which can be obtained from their respective CSO Office. “It is critical for all shareholders to inform Riverbay of changes in household occupants in order for those occupants to potentially have succession rights at some point in the future,” said Peter Merola, Riverbay’s Director of Finance. “The annual filing of the Income Affidavit accomplishes this, as well as filing an Interim Affidavit in between annual filings.” If the shareholder moves out permanently, any member of the primary shareholder’s family or life companion may request, in writing, to be named a shareholder on the lease and on the stock certificate. However, this person must meet certain requirements. “They must have resided with the shareholder in the apartment as their primary residence for a period of not less than two years, or for one year if the succeeding shareholder is a senior citizen or disabled person, immediately prior to permanent vacating of the apartment by the shareholder,” said Mr. Merola. “In cases where the occupancy or relationship is less than two years, the succeeding shareholder must have lived in the apartment from the inception of the tenancy or commencement of the relationship. The succeeding shareholder must have been listed on the Income Affidavit and/or Interim Income Affidavit during the relevant period of time.” Per DHCR rules, the “relevant period of time” must be documented by no less than 3 affidavits and can be supported by either combination of 3 annual affidavits, or 1 interim affidavit plus 2 annual affidavits if the successor moves in between annual filings. DHCR’s rules define “family member” as a husband, wife, son, daughter, stepson,
Co-op City Baptist Church
Rev. Dr. Sheldon E. Williams and the Co-op City Baptist Church family invite you to join us tomorrow at 11 a.m. for worship service on Zoom. You can join us by Zoom Video, https://us04web.zoom.us/j/9623430102, Conference ID: 962 343 0102, Password: 788175#; or Zoom Telephone Conference Line (646) 568- 7788, Conference ID: 0623 43 0102, Password: 788175#. Adult Sunday School is held at 9 a.m. You can join us via Conference Call Line: 563-999-2090, Pin #: 660065. The Summer Adult Bible Class has begun a study on mental illness and the mission of the church. This is a six-session class and the book we’ll be using is “TROUBLED MINDS” by Amy Simpson. Ms. Simpson writes from her personal experience of family mental illness and how they were treated by their church, et al. The complete info is: Title: Troubled Minds: Mental Illness & the Mission of the Church. Author: Amy Simpson. ISBN: 978-0-8308-4304-6. Non-members, please contact Rev. Emanuel at gmemanuel@optonline.net to get the handouts. Use the same address if you have any questions. Bible Study is held at 1 p.m. on Wednesdays, Zoom htpps://us04web. zoom.us/j/9623430102, Conference ID: 962 343 0102, Password: 788175. Call in number: (646) 568-7788, Conference ID: 962 343 0102#, Password: 788175#. Please use the Conference Call Line, 563-999-2090, Pin #: 660065 for the Prayer services shown below: Thursday: Prayer Warriors has begun their summer hours and will be held at 10 a.m. Friday: Noon Day Prayer Service (12 p.m.) Friday: Evening Prayer Service is on hiatus and will not be held during July and August. Have a happy and safe 4th of July! Please keep each other in your prayers and be wise in your decisions. Don’t forget to wear a mask, practice social distancing and stay safe!!!! God will strengthen us as we travel through this storm. GOD is our refuge and strength, a very present help in trouble. –Psalm 46:1 The Co-op City Baptist Church exists to glorify God and to establish a living community of people who follow the teachings of Jesus the Christ through worship, prayer, Bible study and fellowship. We seek to meet the spiritual and physical needs of the church through ministry. —Hattie L. Lucas
stepdaughter, father, mother, stepfather, stepmother, brother, sister, nephew, niece, uncle, aunt, grandfather, grandmother, grandson, granddaughter, father-in-law, mother-in-law, son-in-law or daughter-in-law of the primary cooperator. Cousins are not defined family members and therefore are not eligible for succession under this rule. However, cousins can apply for succession under the DHCR rule of “Emotional and Financial Inter-dependence.” In addition to meeting the residency requirements in this case, a successor would have to provide similar evidence as in the case of a life companion. “Primary residence” is defined as the housing accommodation in which the person actually resides and maintains a permanent and continuous physical presence. Proof of such residency must consist of the Income Affidavit or Interim Income Affidavits together with other evidence, for example, certified copies of tax returns, voting records, motor vehicle registration and driver’s license, school registration, bank accounts, employment records, insurance policies and other pertinent documentation. At the same time, ‘life companion’ is defined as any other person residing with the shareholder as a primary resident who can prove emotional and financial commitment and interdependence between such person and the shareholder. Evidence of this can be the Income Affidavit or Interim Income Affidavit filed by the primary shareholder, as well as evidence of longevity of the relationship; sharing of or relying upon each other for payment of household or family expenses; joint ownership of bank accounts, personal and real property, credit cards, loan obligations, sharing a household budget for purposes of receiving governmental benefits; engaging in family type activities by jointly attending family functions; and formalizing of legal obligations by such means as executing wills, naming each other as executor and/or beneficiary, granting each other power of attorney, etc. The other avenue through which a successor can be named to the apartment is through death of the primary shareholder. If this is the case, the lease and shares of stock for the decedent’s apartment shall be surrendered to the Riverbay Sales Office by the decedent’s estate or survivors for redemption. If there are no legal disputes, Riverbay will sell or transfer the shares to any member of the decedent’s family or life companion, as long as they meet all of the requirements as stipulated by DHCR’s rules and regulations. Any family member or life companion of a shareholder who would like permission to remain in occupancy after the cooperator moves or dies should submit a written request within ninety (90) days to Riverbay Corporation, 2049 Bartow Avenue, Bronx, N.Y. 10475, Attn.: Succession Rights. It is imperative that shareholders understand that no other types of stock transfers or lease amendments are allowed except those directed by statute or an appropriate tribunal or court of law. Co-op City residents may visit the “Shareholders” page on the Riverbay website at www.coopcitynyc.com, scroll down to “Resources,” for a copy of these succession rights.
Pentecostal Tabernacle
Pentecostal Tabernacle welcomes everyone to attend worship service at 100 Co-op City Blvd., Building 22A, Bronx, N.Y. 10475. Services are on hold until further notice. Please feel free to join us online by calling 701-802-5395, Access code: 3332632, Sundays, 11 a.m.-1 p.m.; Wednesday morning prayer and fasting at 11a.m.12:30 p.m., Bible Study, 7:30 p.m.; Friday worship service at 7:30 p.m. The hope of the church is to be caught up in the first resurrection and to be with the Lord forever. The bride of Christ will be privileged to rule and reign with Jesus Christ during one thousand years of peace. And I saw an angel come down from heaven, having the key of the bottomless pit and a great chain in his hand. And he laid hold on the dragon, that old serpent, which is the devil, and Satan, and bound him a thousand years, and cast him into the bottomless pit, and shut him up, and set a seal upon him, that he should deceive the nation no more, till the thousand years should be fulfilled, And after that he must be loosed a little season. –Revelation 20:1-3 & 6 Blessed and holy is he that hath part in the first resurrection: on such the second death hath no power, but they shall be priests of God and of Christ and shall reign with him a thousand years. Revelation 20:6 Satan will be bound and cast into the bottomless pit for one thousand years
while Jesus Christ rules the world in righteousness. He will not be simply restrained as he is now, but his power and influence will be absent from the earth. People who sin against God in that day will do so out of the wickedness of their heart. In addition, the knowledge of the Lord will be increased in all the earth. What glorious day that will be for generations who are counted worthy to live in the millennial kingdom of Jesus Christ, the son of David! Matthew 25:31-33 states: When the son of man shall come in his glory, and all the holy angels with him, then shall he sit upon the throne of his glory: And before him shall be gathered all nations: and he shall separate them one from another, as a shepherd divideth his sheep from the goats: And he shall set the sheep on his right hand, but the goats on the left. All the redeemed, including the tribulation martyrs, shall reign with Christ as kings and priests. Since we are heirs and joint heirs with Christ, the role of the church in the millennial reign will be to serve as king’s and priests in His kingdom. Revelation 1:6, And hath made us kings and priest unto God and his father, to him be glory and dominion forever and ever Amen. Chapter 5:10, And hast made us unto our God kings and priest: and we shall reign on the earth. For further information, please call, 718-324-0334 or 646-345-6707. —Rev. R. Sibblies