Legal Question in Real Estate Law in New York
Sale of sister's one-half interest in property to other sister
Two sisters own a piece of property in Westchester County. One sister would like to buy the other sisters half interest in the property. I have been contacted by the sister that wants to purchase. I believe I need another attorney to handle the seller. Please advise if there is any way to complete the transaction with one attorney since it is between sisters. Should the contract just convvey the 1/2 interest or should it name the entire property (and both sisters as sellers) Thank you.
4 Answers from Attorneys
Re: Sale of sister's one-half interest in property to other sister
You may be able to use one attorney however I would recommend using two attorneys to eliminate any conflicts.
Also, in terms of conveyance, I would need to see how the property is held, as well as the prior deed granting the property to the sisters, in order to tell you how it should be further conveyed.
Feel free to contact me should you have any further questions or would need my assistance.
Kind regards,
Peter Moulinos
Re: Sale of sister's one-half interest in property to other sister
Although the transaction is within the family, I would recommend using two attorneys to avoid any possible conflicts.
In the contract, I would indicate the names of the sellers, i.e. sisters one and two; and the name of the buyer, i.e. sister one.
If you decide that you need a second attorney, please feel free to contact me.
Re: Sale of sister's one-half interest in property to other sister
I agree with Mr. O'Donnell. You should have the current record owners together convey the property. Use two attorneys, especially because this is a family matter. And obtain a new title policy certifying the single sister as sole owner - it will cost a few $ but provide an added, and valuable, layer of protection for both you and your client.
Re: Sale of sister's one-half interest in property to other sister
Tis can be done with one attorney in the event that you do not anticiapte problems among and between the sisters...otherwise prudence would dictate each use their own attorney to avoid any problems.
Feel free to contact me in the event that you have further questions or a need for my services .
Good Luck
RRG