Jones v. Fordham Hill Owners Corp.

Plaintiff Lindsey Jones, the owner of shares of stock and a proprietary lease of apartment 8-3E in the Fordham Hill cooperative complex, purchased the shares of stock associated with a second apartment (4-9G) in July 1991, and simultaneously executed an assumption agreement and proprietary lease agreement relating to that apartment. Under the terms of the proprietary leases of both apartments, and of all proprietary leases of the Fordham Hill complex, shareholders were required to make maintenance payments, proportional to the number of shares owned, on the first day of each month. The share…