Legal Question in Real Estate Law in New York

Re: action for partition

If it was listed as a gift, it will be deemed a gift. You and your sister will split the proceeds from the sale of the house.

However, I STRONGLY urge that you avoid a partition action if at all possible. I just finished up a case in Kings County Supreme Court where the judge appointed a receiver, who then hired an attorney, to sell two modest properties. The case dragged on for two years, due to inactions of the receiver and his attorney, and it was a disaster.

Re: action for partition

A gift accepted cannot be revoked by the grantor. The court will not compel the money be returned.

Gift is a gift but:

The Gift was contingent on your mother receiving a life estate (being allowed to live in the property).

It is an argument that could force the repayment of the monies as she wil lbe evicted and not be allowed to live out her life estate.

this would be an action of constructive trust. Where a promise was made, people relied upon it, paid money, transferred or bought property but no written record was kept. It is a hard case to prove however.

One large proplem is that a partition action could cause the a very large loss in the value of the house. The court could order a receiver to sell the property at auction. Almost always a low price will result and then the fees to the auctioneer and receiver must be paid which may be substantial!