What is a proprietary lease and how does it impact me if I purchase an apartment in a co-op building?

Disclosure (please Read): All material presented herein is intended for information purposes only and solely to help you obtain answers to general questions regarding real estate topics. It is not a substitute for or intended to be legal or financial advice. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice, and Where To Live Next, Inc. (Parent of Method Properties) and its related entities and affiliates shall not be liable for any damages, losses or other claims arising out of the use of this service. As each situation presents unique circumstances, you should consult with an attorney or financial services advisor to obtain professional advice.