uninsured coop

[nycguy2016]

Posted this in the condo/co-op section as well;
This is for a coop in NYC. "Shareholder 1" is doing renovations and their contractor broke a water pipe. Water leaked into "Shareholder 2's" apartment. No major damage, however Shareholder 2 is currently uninsured. What's best course of action for Shareholder 2?

 

[quincy]

Posted this in the condo/co-op section as well;
This is for a coop in NYC. "Shareholder 1" is doing renovations and their contractor broke a water pipe. Water leaked into "Shareholder 2's" apartment. No major damage, however Shareholder 2 is currently uninsured. What's best course of action for Shareholder 2?

This forum prefers that a poster stick to a single thread. One thread is all that is necessary. The forum members can find your single thread wherever you post it.

Thanks.

 

[adjusterjack]

I reported your other post for deletion as a duplicate.

The best course of action for Shareholder 2 is to make a claim against the contractor.

I don't see Shareholder 1 having any liability here.

I suppose that Shareholder 2 had a good reason for not buying insurance. I wonder what it was.

 

[nycguy2016]

I reported your other post for deletion as a duplicate.

The best course of action for Shareholder 2 is to make a claim against the contractor.

I don't see Shareholder 1 having any liability here.

I suppose that Shareholder 2 had a good reason for not buying insurance. I wonder what it was.

Thanks. Sorry about the double posting.

Shareholder 2 was stupid for not getting insurance right away. Luckily the visible damage doesn't seem meaningful but it is water, so you never know.

I assume Shareholder 2 should lawyer up in order to take such steps?

 

[AdjunctFL]

Luckily the visible damage doesn't seem meaningful but it is water, so you never know.

Non-legal advice - don't put off getting it fixed. Water in the walls, ceiling, etc. leads to mold damage, which is very difficult to get rid of and can be very unhealthy for the occupants.

 

[justalayman]

I assume Shareholder 2 should lawyer up in order to take such steps?

why? Does tenant #2 like spending money for no reason? It may be as easy as asking for compensation for the probable damages. Yes, that means #2 is going to have to obtain an estimate for
The cost of repairs.