Legal Question in Wills and Trusts in New York

The residence can be sold at fair market value or can be distributed to the residuary beneficiaries designated in the Will. If a distribution occurs, the residuary beneficiaries will hold the residence as tenants in common. If

"I am being told that the house has to be sold as none of us were listed on the deed." This is not true. The estate may sign a deed transferring the house from the "Estate of Mother" to each of the four children individually.

If the nephew wants to purchase the house and cannot get a mortgage, you have the option of either accepting paper (a purchase money mortgage) - and you nephew would have to pay you instead of the bank, or, you can sell the house to another individual.

Mike.