In the event of a shareholder's death, most proprietary leases have clauses that indicate how to handle the property transfer to a family member.
The general rule is that the co-op board has the right to approve or deny a sale for any reason, except for a legally prohibited reason, such as discrimination.
Naming all of your children as co-owners of the unit might not be the wisest idea, as the board may hesitate to approve three new owners.
Transfers to a spouse often do not require approval from the board, while transfers to other family members might be subject to approval depending on the proprietary lease.
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