Legal Question in Real Estate Law in New York
real estate right of use
My grandmother deeded her house to her sons many years ago with a right to use the property as long as she lives. Sons put her in an adult home and now want to sell the house. Can they legally sell the property as long as my grandmother is still living and may want to return to the house?
4 Answers from Attorneys
Re: real estate right of use
What transpired was the deeding of the property, with your grandmother retaining a life estate.
They cannot sell the house as long as she is alive and may be able to return to the property to live.
However, they will have a problem in maintaing the house - taxes, utilities, upkeep.
A lawyer should be consulted to protect the interests of both the sons and the grandmother.
If you have any other questions, please feel free to contact me.
Re: real estate right of use
They can sell the property if the grandmother knowingly waives her right of possession. If she withholds her consent, they can still sell the property, however, the grandmother still retains her right of possession. This would - in effect- lower the market value of the property.
Mike.
Re: real estate right of use
They can sell the property if the grandmother knowingly waives her right of possession. If she withholds her consent, they can still sell the property, however, the grandmother still retains her right of possession. This would - in effect- lower the market value of the property.
Mike.
Re: real estate right of use
They can sell the property if the grandmother knowingly waives her right of possession. If she withholds her consent, they can still sell the property, however, the grandmother still retains her right of possession. This would - in effect- lower the market value of the property.
Mike.
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