Legal Question in Real Estate Law in New York
l.l.c.
4 siblings inherited a building and there was no will.
One of the siblings became the administrator, as per his request, about 3-5 months after my father's death. I asked him to get an appraisal asap. It has been 8 months, no appraisal. I want to be bought out. Would there be any problems if I do not join with the other 3 in the LLC? Could I be the only one responsible if someone gets injured in the apartment? What is a reasonable time to wait until a decision is made to sell? There are many complications with the construction of illegal appartments within the building? How could they get a mortgage to give me my money? Would a bank ever approve? What really needs to be done here?
1 Answer from Attorneys
Re: l.l.c.
You ask many complicated questions without giving sufficient facts. It is impossible to answer your questions within the context of this site. I would suggest sitting down with an attorney for a consultation.
Mike.
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