succession rights in New York State
A 2nd Cousin had power atty. for 89 yr old aunt with alzheimers. Cousin mortgaged aunt's hse 2x's - while aunt was alive. No Will in Surrogt. Ct., Aunt's parents dead, she had no kids, she has 1 living sister and several 1st neices and nephews from deceased sisters. Power of atty. on file granted 1st mortg. but not 2nd mortgage. Who owns house? Can anything be done about the 2nd mortgage that was taken out on house? Is there a stature of limitation on taking action?
1 Answer from Attorneys
Re: succession rights in New York State
There's definitely a statute of limitations. All actions (well, almost all), have limitations periods.
If Aunt had no Will, her property passes by intestacy. Sister and nieces and nephews will inherit property subject to the mortgages.
Not sure what you mean by "can anything be done about the 2nd mortgage." Assuming the bank didn't do anything wrong, the mortgage must be repaid. Did your second cousin do anything wrong (e.g, violating his duty as attorney-in-fact)? I don't know. What was the money used for?
Good luck.
Rick Bryan
New York, NY
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