Legal Question in Real Estate Law in New York
property rights
My Mother in law still has her name and her husband's on the deed to our home. They also do not have a will. My husband's and my name are on the deed also. If she and my father in law die will the property belong to us free and clear or will my sister in law have a claim?
2 Answers from Attorneys
Re: property rights
If you inlaw's are listed on the deed, then they are equal owners, or owners to the extent of their listed respective percentages. Depending on the TYPE of deed you have, the disposition of their share of the property may or may not be favorable to you. If you have a copy of the deed and access to a fax, please feel free to contact me.
Re: property rights
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Under NY law, if you are listed as Joint Tenants on the deed, and one or more Joint Tenants die, the surviving Joint Tenants own the entire property.
If you are listed as Tenants-in-Common, you only own your undivided interest, and the share of any Tenant-in-Common becomes part of his/her estate upon death.
Any mortgages or other liens on the property remain.