Legal Question in Real Estate Law in New York
Proration of Feul
The sellers discovered after the closing that a feul proration had been missed by the attorneys,They want for us to pay a proration.Our cotract states that this proration is to be in the disclosure at time of closing. Do we legally own everything on the premises when title is transfered and if so does this also include feul.
2 Answers from Attorneys
Re: Proration of Feul
The answer to your question depends on the language in the contract of sale. Usually, but not always, a seller can fix this sort of minor error, so yes, you would owe the balance for the oil. To give you an exact answer, however, would require looking at your contract. You should contact the attorney who represented you in the closing.
Re: Proration of Feul
The NY State form of contract often used states at paragraph 18(e) dealing with apportionments:
Any errors or omissions in computing apportionments or other adjustments at Closing shall be corrected within a reasonable time following Closing. This subparagraph shall survive Closing.
If this paragraph is in your contract the Seller's can demand that you reimburse them for the fuel that was in the tank on the day of closing.
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