Legal Question in Wills and Trusts in New York

Was left 1/2 of a 2 family house

Dad passed left me oldest daughter 1/2 of the house, 25%

to his son, 25%to his daughter. My problem is I owe an

outstanding student loan of $40,000. Will my brother who

now owns 25% my sister 25% loose the house on the kind of me

owing a student loan. I'm on disability for the last 20yrs,

never had money to repay this student loan. Will the student

loan take the house from us 3 adult children, my brother and

sister? What should I do ?

Thank you

J Thompson


Asked on 3/19/04, 7:24 pm

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

Re: Was left 1/2 of a 2 family house

You could consider disclaiming your interest in the house, which would allow your share to go to your brother and sister. This might be considered as if you transferred your interest, and could raise a claim by the student loan creditor. If you took your share, they could not take the house from your siblings, but might make it difficult and force you to pay the loan. I suggest talking to a good estate attorney/real estate attorney to see what happens if you go the disclaimer route.

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Answered on 3/20/04, 1:20 am


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