Coop foreclosure with two title trails

[Account Closed]

Hey BP,

I'm interested in buying a coop unit off of a foreclosure auction.

I think I understand the difference between buying a coop vs. buying a condo. I'm confused, however, because when I look the unit up by BBL on ACRIS there are two addresses with two completely separate "title trails," and each trail is for a different number of shares (150 vs. 165). Only one of the two currently open liens is being foreclosed upon, and I'm trying to understand whether this foreclosure will give me possession of the unit without any other claims.

For example, the last recorded deed transfers were in 2006 and 2009, under two different addresses, and the buyer (under one of the addresses) in 2006 was not the seller (of the other address) in 2009. The UCC1s, RPTT and RETTs for this one BBL create a history that looks something like this:

2003: Jessa sells 165 shares of 10 Woodlawn Ave Unit 1A to John

2004: Deena sells 150 shares of 20 Green St Unit 1A to Dan

2006: John sells 165 shares of 10 Woodlawn Ave Unit 1A to Jane

2009: Dan sells 150 shares of 20 Green St Unit 1A to David

2017: Jane is currently being foreclosed upon for her 165 shares for 1 Woodlawn Ave Unit 1A.

I've heard of issues with title, but I've never seen something like this before. Is this an example?

Does anybody have any advice, resources or contacts that might be able to help educate me?

[Tom Gimer]

Real estate Tax IDs are likely those of the entire cooperative rather than the individual units.  The cooperative is billed for the entire amount and tax bills are paid -- to the cooperative -- through monthly maintenance fees. Sounds like you have 2 unit 1As in different buildings.