Legal Question in Real Estate Law in New York
real estate
I am 53 yeas old and have lived in my parents house for 12 years. The house is for sale. If and when it sells am I entitled to any of the proceeds?
2 Answers from Attorneys
Re: real estate
You would only be entitled to a portion of the sale if you have some sort of legal interest in the house. For example, if both your parents are dead, and you obtained an interest through their death, then the answer is yes. If both parents are alive and you are not on the deed, then they have no obligation to give you a share of the proceeds from the sale of their property.
J. Douglas Barics
Re: real estate
Unless you are named on the Deed or have some claim, such as if you have been paying bills like taxes, repairs, etc., with an understanding that that these payments were not gifts or in lieu of rent, you are entitled to nothing. You may be the equivalent of a boarder, who gets nothing if the house is sold.