Legal Question in Real Estate Law in New York
Purchace Mother Home
I would like to buy my mother house in New York this summer what procedures are required to fulfill the legal requirements to purchase her home?
V/R
SCPO USN
3 Answers from Attorneys
Re: Purchace Mother Home
1. A written contract of sale.
2. A deed signed by the grantor conveying title to the new owner.
3. Filing deed with County Clerk.
Other factors may come into play depending upon the deal involved. Good luck.
Re: Purchace Mother Home
You would need to agree on a price with your Mom. You would need to agree on how payment of the price was to be paid to your Mom.
Once those two basic requirements are met, you would have to pay your Mom and receive, in consideration, a deed to the property. The deed must be filed with the County Clerk.
Mike.
Re: Purchace Mother Home
All that should be required is a simple Deed and any tax forms associated with the transaction (is the purchase going to be a gift to you or an actual purchase?) Since there may be tax ramifications either way, you should consult a tax attorney familar with real estate also (like myself or someone local) to assist you. It is a simple transaction either way.