New York  |  Real Estate Law

Legal Question

Asked on: 11/15/07, 9:15 pm

Transferring Ownership.

I currently own 50% of a house. The other owner does not want any part of the house for exchange of 100K that will be paid of over time. He is very bad with money and dont want to blow it. His main concern is that he will be able to live in the house for rent free for the next 5 years. Current house does not have any mortgage just back tax and water lien that i am paying off. Property is a 2 fam house. Goal is to transfer it out of his name into a llc that i will be the sole owner and give him a promissory note. How can I approach this.

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

125 Answers given in the last few hours.

8663 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search