Legal Question in Real Estate Law in New York

Hi,
My Ex and I had a house that has gone though bankruptcy over three years ago and is now in inactive
foreclosure. The house has lost about $40,00 in value since we bought it. It seems they could leave it
there for another three years with our name still on the deed! We would like to have this over and
done with. The house is located in New York.
Question one: Is there a way with a lawyers help to get them to speed up the process and get the
house auctioned?
Question two: If someone gets hurt on the property with our name still on the deed, are we libel
for their injury?

Asked on 10/22/12, 12:28 pm

2 Answers from Attorneys

Paul Vaygen Law Offices of Paul A. Vaygen

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If you have not been involved in the foreclosure litigation and let it default, it's up to the bank how fast they wish to proceed with a foreclosure until the case becomes stale due to their inaction, which is rare. You may want to contact the bank or their attorneys and see if they would accept a "deed in lieu of foreclosure," whereby you would voluntarily transfer title to the bank.

Otherwise, you're still technically the owner and may be sued if there is an accident on the premises. If you stopped paying your insurance premiums as well, you may be personally liable for any injuries.

Answered on 10/22/12, 12:56 pm

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