But now there is talk of restricting use to the co-op shareholders.

Condo owners like her have far less to fear than co-op shareholders.

But co-op shareholders do not have the same level of control over their tax-deductible debt as other property owners.

It is simply an unfair tax on co-op shareholders.

It left open the question of whether co-op shareholders have the same right.

In addition, the property-tax program's benefits are extended to to co-op shareholders.

"And the courts are going to be more sympathetic to rental tenants than to co-op shareholders."

Mr. Block said that co-op shareholders have another way to increase their adjusted basis.

But what rules apply when a co-op shareholder wants to sell an apartment?

"This is an example of why co-op shareholders should always have their own insurance," he said.