Legal Question in Real Estate Law in New York

Re: Transfer real estate from brother in one state to sister in another state

You may transfer title by yourself, but it might be advisable to use an attorney to prepare the deed and required accompanying forms. You should be aware that if you gift the property, your sister will have the same cost basis in the property that you have. On the other hand, if you sell the property, you will have to pay NY State estimated tax before the deed can be recorded.

Re: Transfer real estate from brother in one state to sister in another state

It is usually best to use an attorney to make sure that the transfer is done correctly, but you may transfer it yourself. You may gift the property to your sister.

Re: Transfer real estate from brother in one state to sister in another state

You may not need to come to NY, but a NY attorney should be retained to make certain the Transfer and recording is properly done.

To transfer real estate in NY, it is required that you have prepared a "NY" Deed. And, various NY Tax and other recording documents, must be signed by both the Transferor (You) and the Transferee (Your Sister). Also, the process of recording must now be initiated online; and the entire process is more complicated than it is in many other states.

Good luck,

Phroska L. McAlister,ESSQ