Legal Question in Real Estate Law in New York

Re: Land Contract and quitclaim deed

To put title into your name only the following must be done:

1. A deed must be prepared, together with the TP 584 form and an equilization form.

2. The prepared deed must be signed by your ex-wife and you before a notary public. A transfer tax maybe paid depending on the location of the property.

The normal procedure to sell property and take a promissory note is as follows:

1. There is usually a contract for sale. Depending on the type of property, in NY a Real Property Disclosure Statement must be delivered.

2. At closing, a mortgage is usually prepared and signed by the new owner. A mortgage tax is paid with the transfer tax.

Mike.

Re: Land Contract and quitclaim deed

Yes, this transfer can be done without returning to New York. You should contact your family attorney. If you do not have one you can contact the local Bar Association or email me and I can assist you.