Legal Question in Wills and Trusts in New York

Real Estate Transfer Dilemma

Mom dies. Sole owner of home. Divorced. No will. Only child is an adult and has possession of property, of deed (in Mom's name)and Mom's death certificate and wants to sell this property. Can an agreement between seller and buyer be made prior to actual transfer of property into child's name?


Asked on 8/07/01, 8:55 pm

3 Answers from Attorneys
Norman Nadel Norman Nadel, Esq.

Re: Real Estate Transfer Dilemma

Yes!

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Answered on 8/08/01, 4:42 pm
Robert Kaplan Robert Kaplan, P.C.

Re: Real Estate Transfer Dilemma

Yes, subject to the son obtaining letters of administration (court approval of his capacity to sell estate assets). You could handle it yourself, but it would be prudent for an attorney knowledgeable with the courts to prepare the paperwork as well as the contract of sale

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Answered on 8/08/01, 9:29 pm
Walter LeVine Walter D. LeVine, Esq.

Re: Real Estate Transfer Dilemma

Sole adult child first has to qualify as administrator of mom's estate, to have legal authority to sign Deed. You can contract for sale while completing the administration process. You do not say if mom's estate may be possibly subject to federal or state estate taxes, which might require tax waivers to complete sale also.

You can do most of this yourself, but should have an attorney review all aspects to see that all requirements have been met.

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Answered on 8/08/01, 2:55 pm


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