Legal Question in Wills and Trusts in New York

Re: My Rights in an Estate

One of the heirs has to apply in your County's Surrogate's Court for Temporary Letters of Administration. The Court Clerk can give you the forms and possibly some help in filling them out. If the house is the only asset, the four heirs living there may wish to "buy out" the fifth heir and take ownership.

All the heirs are responsible for a share of maintenance and repair and the heirs living in the house liable for fair market rent to be paid to the estate.

Re: My Rights in an Estate

One of the heirs will need to apply for Letters of Administration, which will authorize that person to collect the estate assets, pay necessary bills, and distribute the remaining assets to the heirs.

If there is insufficient money to pay the bills, it may be necessary for the Administrator to borrow money against the house.

After the bills are paid, the Administrator can use an Administrator's Deed to convey the house to the heirs, or he or she can sell the property to a third party and distribute the proceeds to the heirs.

Before making any extensive repairs, the Administrator should either make sure that that the heirs consent to that expenditure, or be certain that the cost of the repairs will be offset by the increased market value of the house.

Re: My Rights in an Estate

Since the house belongs to all 5 people, they are equally responsible for costs of maintenance and repairs, particularly those who reside there. Keep detailed records of all out-of-pocket expenses for reimbursement purposes. Time expended (labor) cannot be reimbursed unless all agree to an amount or a time rate.