Legal Question in Real Estate Law in New York
buying land
I have a piece of land I wish to purchase in NY. The lady who owns the land does not want to go through attorney's etc. She is willing to just sign the deed over to us. Is this possible? I don't have the extra money to put toward an attorney and she would rather just do the sale privately. What can we do to reduce costs if we do have to go through an attorney?
3 Answers from Attorneys
Re: buying land
How do you know she owns the land? How many liens are on the land?
hire a lawyer.
Re: buying land
The most important issue for you to resolve is whether or not your Seller has clear title to the property and no judgments, liens, mortgages or other encumbrances which would impede your getting clear title.
At the very least have the title searched and buy title insurance.
This is not legal advice and no attorney client relationship exists between us. It is general information only in response to a general question.
Re: buying land
While it is normally a conflict of interest for one attorney to represent both parties to the sale, most state's conflict laws allow the parties to waive, by written document spelling out the conflict and reasons for waiving it. See if your attorney would consider doing this. As an alternative, see if the title company would have a representative at the closing to review the documents. They usually do this for a nominal fee. I would, in the latter case, recommend that the seller sign some written document indicating she was aware of the right to have an attorney to represent her and has waived that right and has done all that is required of her own volition and acknowledging she was under no undue influence to sign papers, etc. Again, your attorney or the title company could prepare that document.