Legal Question in Wills and Trusts in New York

shares of an estate

My mother-in-law lives in a 2 family house,of which she owns1/2[no mortage],my[older]brother-in-law owns the other1/2.She wants to change and old will.She want her 5 children to get equal shares of her estate when she passes away.My[older]brother in law does not like this;the old will made out some 35 years ago gave him 1/2 with the other half going to my other[younger]brother-in-law;the 3 sisters would have to share what ever money is left 5 ways.They used to do this in Italy 100 years ago)He states he cannot afford to buy out the other 4.He wants to get secret ''written agreements'' from the other 4 that they will give hime the entire house and that when either he can afford it or sells the house,he would buy them out.In the mean time the 4 would not receive anything.This does not sound legal to me. It is not his Will but my mother-in law's.


Asked on 5/05/05, 3:05 pm

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

Re: shares of an estate

You are correct, it is your mother's decision and she is free to do as she wishes. On the other hand, one child already owns 1/2 of the house and will get 1/5 of the other half. This leaves him at the mercy of the siblings if anyone wants their portion liquidated, if he cannot afford to buy them out. They could compel the sale of the entire house, in a legal action called Partition. Thus, he might be forced to sell his home. If the other siblings recognize this, they may be willing to follow his proposal, but if they agree, their interest should be recognized by a mortgage, with some outside time period by which he would have to pay them off. There should not be any "secret" agreements, as the other siblings could lose out by not having something in writing and the writing recorded.

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Answered on 5/05/05, 4:06 pm


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