Legal Question in Real Estate Law in New York
residential buyout
Good morning,
I was wondering, if you buy someone out of the deed, when they get their money and their name is off the deed, how soon do they have to vacate the premises? The residence is in Queens, NY. Please advise and thanks in advance for your help.
2 Answers from Attorneys
Re: residential buyout
The contract of sale determines when occupancy of the premises is to be ended by the Seller.
The usual pratice is to deliver the premises vacant at closing of title.
However, there are occasions when the Seller wishes to remain for some period of time. This would be spelled out in the Contract and generally, money would be held in escrow to ensure compliance.
This post is not legal advice and does not create an attorney-client relationship. It is a comment on the legal question posed by the poster and should not be relied upon in any way. All readers are advised to consult an attorney to address their specific legal concerns. Additional facts could affect the answer given.
This post is not legal advice and does not create an attorney-client relationship. It is a comment on the legal question posed by the poster and should not be relied upon in any way. All readers are advised to consult an attorney to address their specific legal concerns. Additional facts could affect the answer given.
Re: residential buyout
As Mr. Nager wrote, it depends on your agreements. Have an attorney assist you if you can not get this resolved on your own soon.
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