On appeal, the court was asked to determine whether a taxable transfer occurs under Tax Law § 1201(b) and Administrative Code of the City of New York § 11–2102(a) when a residential housing cooperative corporation amends its certificate of incorporation as a part of its voluntary dissolution, reconstitution, and termination of participation in the Mitchell–Lama housing program (see Private Housing Finance Law § 10 et seq.).
The court concluded that, that because there is no transfer or conveyance of any real property or an interest in real property under those circumstances, no taxable event occurs.