Asked and AnsweredCan I purchase my co-op in the name of a trust?
Maybe. As a general rule, condos allow a buyer to use any lawful entity to take title to an apartment. That is not the case with co-ops. More and more co-ops now allow a purchaser to use a trust to take title to the shares, provided that the underlying purchaser guarantees the obligations of the trust or posts a security deposit. Co-ops almost never allow an apartment to be owned by an entity such as a corporation, partnership or limited liability company. If you need to purchase the unit in the name of your trust, make sure you make that fact known when you make your offer. In many cases, purchasing in the name of a trust will not be possible.