Legal Question in Real Estate Law in New York

My sister's husband owned a rental building in NYC. Before he met my sister he added his brother to the title at 50/50 % with rights of survivorship. He passed away 5 years ago unexpectedly before he had a chance to change his title to my sister. After her husband's death my sister asked her brother-in-law to change the title but he claimed that he didn't want to make any title changes since it would effect his taxes. We're not sure what that means.

For the last 5 years my sister continued to collect the rent from the 8 units and paying the maintenance, taxes and expenses of the property. By doing so she assumes the law will see that it is her property even though her name is not on the title.

Does my sister have any legal recourse if he refuses to change the title? Since he is the only one on the title to the property, if he died tomorrow, I assume that it automatically transfers to his estate and passed down to his wife and family, basically leaving my sister with nothing. My sister is hoping he will do the right thing one day and switch his title over to her. She and his family are amicable and she is afraid to push the topic which may result in her being ostracized. He agreed that it is her property (she gets the rent and pays the expenses) but has not change the title which worries me. The building is worth over $2M. What are my sister's rights and options?

Thanks.


Asked on 8/22/12, 7:16 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Actually, since your sister is not the owner, she has no rights in the property or to collect rent and pay the bills. How is this being handled income tax wise? Who or what entity is reporting the rental income and taking the deduction? I suggest your sister might have rights, but unless they are perfected by proper legal procedures, she may be acting improperly. I suggest a real estate attorney and accountant should be consulted. This is a reply to an Internet question and the response is for informational purposes only. The response is not intended to be legal advice or as creating an attorney-client relationship. Facts not presented or different facts could change the response.

Read more
Answered on 8/22/12, 9:11 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York