Legal Question in Wills and Trusts in New York
in a case of business property that was co-owned by two parties at 50-50 and was sold on land contract prior to the demise of one party would the balance of what is owed on the sale become part of the esate.
Asked on 8/22/14, 8:29 am
2 Answers from Attorneys
David Slater
David P. Slater, Esq.
Yes, only the deceased share.
Answered on 8/22/14, 9:24 am
Walter LeVine
Walter D. LeVine, Esq.
The decedent's share of the proceeds from the land sale go to his estate. The balance goes to the other owner.
Answered on 8/22/14, 2:16 pm
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