Legal Question in Wills and Trusts in New York

Re: Splitting money

Your friend, as the survivor, can sell the house and divide the proceeds of sale into three shares, one share for each sibling.

Re: Splitting money

It depends on what the deed says. If the deed lists all three names as joint tenants, upon death ownership goes to the survivors. Sale of the house and transfer of the deed can be done using a death certificate.

Mike.

Re: Splitting money

If the deed is a survivorship deed as you described, then your friend is the sole legal owner of the house at this moment. She can close the sale of the house with a copy of her mother's death certificate.

However, in terms of dividing up the sale proceeds with her sisters, your friend should be aware that there are potential gift/estate tax consequences. She should speak with an attorney or accountant before transferring funds among the sisters.

Feel free to email or call my office for a brief consultation.