Legal Question in Wills and Trusts in New York

Re: Inheritance of house

First see that a new deed is filed listing all of you as owners. If the others dnot want to buy you out or pay rent then bring a partition action to compel a sale.

Re: Inheritance of house

In effect the bequest created a partnership between the children. The absebtee owners have a right to economic benefit from the property, which includes the right to rent, but also have the partial responsibility for operating costs (taxes, insurance, repairs, etc.) Everything would be pro rata to the ownership (1/4 each). The absentee owners also have a right to seek partition of the property, which is essentially a suit to be bought out. This all presumes that the Will is silent on division of responsibility and makes no allocation of costs or other provisions for maintenance, rent or other matters. Perhaps the children can agree, if there are other assets, that the residents get the house and the others get their value from other assets. This would make a liquidation of the absentee owners' value less onerous on the residents. Maybe the residents can get a mortgage to "buy out" the other children's interest, to avoid any litigation over the property division.