Legal Question in Real Estate Law in New York
My stepson wants my husband and I to pay off his 80,000 mortage and he will give us a lifetime lease. We still pay rent every month and are responsible for the taxes.
Asked on 11/01/10, 5:38 pm
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
The agreement must be in writing. The "life estate" should also be included on a deed filed with the County Clerk.
Mike.
Answered on 11/08/10, 5:57 am
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