Legal Question in Real Estate Law in New York

Re: Life Tenancy Help...desperate!!!

Whether or not the daughters are responsible for the taxes depends on how the life estate was granted in the will.

As to the right to sell the remainder interest subject to the life estate, the answer is clearly yes.

My comments are based on treating your question as a hypothetical. Accordingly, my comments could be substantially and materially different were I advised of all of the relevant facts and circumstances. My comments are by necessity general in nature, and should not be relied upon in taking or forgoing action in your circumstances without retaining an attorney. In order to fully explore your legal matter, you should meet with me or another attorney and bring to any such meeting all relevant documents and correspondence, and any other relevant facts.

I am not hired to be your attorney, and no attorney-client relationship exists between us, unless and until you enter into a written retainer agreement with me, tender the agreed amount for a retainer and it is accepted by me. I reserve the right to decline representation should circumstances change.

As you are aware, in New York there are various deadlines for filing a complaint, filing an answer to a complaint, or taking other action in order to preserve your legal rights, and avoid a complete loss of those rights. You should retain counsel immediately in order to be fully advised of your rights, and to be fully informed of the applicable time period within which those rights must be asserted. If you were to delay in doing so, it might result in your potential cause of action being forever barred.

Re: Life Tenancy Help...desperate!!!

#1 - Tough call without seeing the language of the Will. Were any conditions imposed on the wife to pay any of the operating expenses? If the Will just left the life estate, with no directions or instructions on allocation of payment of operating costs like taxes, insurance, repairs, this may lead to litigation. In many instances, the life estate is treated like a lease. You have the right to occupy the house, but not without cost, unless I relieve you of the cost. Thus, while the owner may be responsible for operating costs, like taxes and insurance, the occupant may have a responsibility to pay a reasonable "rental" for the right to continue occupancy. I make 2 suggestions: check this with a local attorney familiar with real estate and, if the wife sues for the back taxes, countersue for lost rent.

#2 - A sale subject to the life estate can be done, but the issues of question 1 should be resolved first, so the Buyer knows exactly what are the responsibilities and what, if anything, are the benefits. I would not pay market value if I was exposed to a long-term occupancy and have responsibility for all bills, with no offsetting income from rents. The age of the wife, her health and what she is responsible to pay all effect the final determination of purchase price.

As an note, this appears to be poor draftsmanship by the attorney who wrote the Will. While he may have been subject to a malpractice claim, the delay in 20 years may excuse it.

Re: Life Tenancy Help...desperate!!!

1. No

2. yes