Legal Question in Real Estate Law in New York

Me and my uncle are going to purchase a property and we have a good relationship and I don't want this to mess our relationship up, so I want to have a good contract where everything is agreed to and signed before this deal goes down.

He has a landscaping business and one of his clients wants to sell the house he lives in to my uncle for $5,000, it will need some repairs, but is livable. He does not have the money, but I told him he needs to have at least $1,000 and I will provide the

$4,000 as long as he takes care of Maintenance, Taxes and being the landlord, etc because he lives right next to the property in Niagara Falls, NY. I live in Michigan. His plan is to get our initial investment quick and then I agreed to him depositing $170 into my account

every month thereafter, but I have no other obligations, Taxes, Maintenance, etc is all on him. I would like this to be written up correctly and looking for someone to write me a contract. Do you know where I can get this done soon?


Asked on 7/15/14, 10:15 am

1 Answer from Attorneys
David Slater David P. Slater, Esq.

You will need a written contract signed by both parties setting forth rights and duties and procedures for default. You both need to be on the title. You will also need a contract to purchase. A title search needs to done on the property to see liens, if any.

Read more
Answered on 7/15/14, 10:25 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York