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So You Wanna Be A Super Chief

IndianIn the real world everyone wants to be a celebrity, even if only for 15 minutes, so they can get special treatment and make a mint by posing nude for Playboy or Playgiirl. It’s no different in High Rise Society, where regular folks aspire to become Super Chiefs, a status that requires keeping your clothes on, but entitles you to sell or sublet your apartment without getting board approval or paying any fees or flip taxes. What am I talking about?

The sponsor is the The Big Kahuna, The Super Jefe.  As you know if you’ve been reading faithfully, it’s the entity that brings your co-op into existence, sells you your shares, and makes the rules.  It also becomes the holder of unsold shares of apartments occupied by rental tenants and not sold at the time of conversion.  While odds are you have to get board approval to sell or sublease your apartment, and pay sometimes hefty fees for the privilege, the Super Chief does not.  It has a constant green light because it is exempt from the rules.

traffic_light_greenFor a long time that’s the way it was.  Everyone just accepted the two-tier system, even if they didn’t like it. because the law said that to be a holder of unsold shares entitled to these special privileges, you had to comply with a bunch of regulations imposed by the Attorney General, including making certain financial representations and guaranteeing payment of all maintenance and assessments for your unsold shares, which made becoming a Super Chef an unattainable pipe dream for most people.

That all changed a few years back when this state’s highest court said those regulations don’t matter.  The only thing that counts is what the contract says. And to determine what the contract says, another court said you can look at the offering plan together with the proprietary lease because usually you can’t understand one without the other.

With the requirement of wealth washed away, the dream of becoming a Super Chief was rekindled and common folk have been rushing headlong ever since to lay claim to that status. This past year alone a slew of wannabes gave it a try. Only, as they found out after spending a bundle on legal fees, it’s not as easy as it seems

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2 Responses to “So You Wanna Be A Super Chief”

  1. Girl Next Door says:

    That’s what the guy next door to me did. Thought just because he bought from the sponsor he could rent out to whoever he wanted, and practically turned the place into a dorm. He found out the hard way he wasn’t a Super Jefe. Sounds like there are a lot more like him out there.

  2. Tribeswoman says:

    Forget about Super Chief clones. I want to know how to get rid of the real one.

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