Legal Question in Real Estate Law in New York

My wife is the recepiain of a home while her mom was still living there under lifetime used trust. She's the only child so everything will eventually be her upon mom passing.

Her mom has recently moved to an assistant living home. So her own money is being used to pay her monthly living expenses at the new place.

The question I have is when does the house is officially transferred to my wife? Is my wife responsible for the taxes, up keep of the house, and can she sell the house while her mom is still alive but not living there? When is the value of the house established? Is the value established when her signed it over, or when her mom moved to the new assistant living place? We are in NY.

Thank you in advance.


Asked on 6/08/22, 5:48 pm

1 Answer from Attorneys
Richard Bryan Richard Bryan Attorney PC

These are good questions. I'm not clear what you mean by the phrase "lifetime used trust."

If mom moved out of the house permanently, your wife may be able to sell the house. There are various places in the law where the value of a house is important, so you have to be more specific about the reason you need to understand when the value of the house is established. Honestly you need to have someone look carefully at the papers to figure out the answers to your questions. The devil is in the details.

Good luck.

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Answered on 6/09/22, 7:12 am


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