So, what does the sponsor of a property mean exactly?
If you've been browsing apartment entries or diving heavy into the globe of co-ops and condos, you've possibly asked yourself what does the sponsor of a property mean plus why everyone keeps bringing it upward. It's one of those terms that sounds like it belongs in a sports stadium or a charity gala, but in the world of real estate, the sponsor plays a massive, central role. These people aren't just a "supporter" of the building; they normally are the very reason the building exists in its current lawful form. ...