Riggin v. Balfour Owners Corp.

In an action to recover moneys paid as a transfer fee upon the sale of stock in a cooperative corporation, the defendant appeals from an order of the Supreme Court, Queens County (Hyman, J.), dated December 15, 1986, which granted the plaintiffs motion for summary judgment.

Ordered that the order is affirmed, with costs.

The plaintiff challenges the exaction of a 6% transfer fee by the defendant cooperative corporation upon the closing of the sale and assignment of the plaintiffs shares in an apartment of the subject premises. The issue presented is whether the plaintiffs shares qualify as…