Legal Question in Real Estate Law in New York

I own a home with my sister. It is vacant now and have not had any buyers for a year. I have offered to buy my sisters half but she said she would rather it rot than sell it to me. We had an offer for $540.000.00 and we both accepted this offer. As a last request, I offered to purchase it for a thousand dollars more and pay the closing costs. She refused, the other buyers backed out of the deal so we are back where we started. Is there any legal advise for me on how or if I can buy the other half. Would a judge need to decide? What recourse is there? I know you can force a sale but thats Not the issue here. It is already up for sale I just want to know legally how to purchase the other half. We both pay the taxes on the home.

Thanks


Asked on 11/02/10, 11:19 am

3 Answers from Attorneys
Arnold Nager Arnold H. Nager, Esquire

An order of partition will direct that the home be sold and is enforceable as a court order.

It sounds as if what you have now, is a voluntary agreement to sell. What will you do if you find another buyer and at the closing, your sister refuses to sign?

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Answered on 11/07/10, 12:17 pm
Arnold Nager Arnold H. Nager, Esquire

Alternatively, you might consider having a "straw" buy the property and transfer it to you after the sale.

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Answered on 11/07/10, 12:26 pm
Michael Markowitz Michael A. Markowitz, PC

You would need to start a partition action. When the referee sells the property, you (and your sister) would have the option of bidding on the house.

Mr. Nager's advice of a "straw" buyer may be illegal and is very risky and should not be followed.

Mike.

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Answered on 11/08/10, 5:53 am


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