Can I negotiate with my siblings to avoid a partition action in New York on inherited property?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney in New York to address your specific situation. Detailed Answer Under New York law, co-owners of real property—such as siblings inheriting a home—hold their shares as tenants in common. If one co-owner wants to force a sale […]
Read article →How to Coordinate Realtor Selection with a Co-Owner for a Joint Property Sale in NY
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult an attorney for advice on your specific situation. Detailed Answer When two or more individuals own real property as co-owners in New York, selecting a real estate broker (realtor) requires cooperation and clear communication. Below are key considerations under New […]
Read article →How to Calculate and Recover Carrying Costs from a Co-Owner in a Joint Sale Agreement in New York
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a licensed attorney in New York for guidance tailored to your situation. Detailed Answer When co-owners enter a joint sale agreement for real property in New York, each owner typically bears a proportional share of carrying costs—expenses incurred to maintain […]
Read article →What options exist for selling or transferring real property when an heir is a minor child and cannot consent? (NY)
Disclaimer: This article is for educational purposes and does not constitute legal advice. Detailed Answer 1. Sale Through Surrogate’s Court (SCPA Article 12) Under New York Surrogate’s Court Procedure Act (SCPA) §1202 (SCPA §1202), any sale of real property owned by a minor requires court approval. A petitioner—often a guardian or heir—files a petition outlining […]
Read article →What steps are required to initiate or consent to a partition action before a court-appointed commissioner in NY?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult an attorney for advice about your situation. Detailed Answer In New York, co-owners use a partition action to divide property or sell it and split the proceeds. A court-appointed commissioner oversees sale or division. You can either initiate the action […]
Read article →What options exist if co-owners cannot agree on a buyout price in New York?
Detailed Answer When co-owners of real property in New York cannot agree on a buyout price, several pathways exist to resolve the impasse: 1. Private Negotiation and Appraisal Co-owners often start by hiring an independent, court-qualified appraiser to assign a fair market value to the property. Each co-owner can then use that appraisal to structure […]
Read article →What process allows a party to force sale of property through a partition hearing in NY?
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Detailed Answer In New York, co-owners of real property may force a sale through a partition action under Real Property Actions and Proceedings Law (RPAPL) Article 9, Title A (RPAPL §901–940). A partition action begins when one co-owner (the plaintiff) files […]
Read article →How Does a Partition Action Work to Resolve a Dispute Among Multiple Owners in NY?
How a Partition Action Resolves Co-Owner Disputes in New York Disclaimer: This article is for informational purposes only and does not constitute legal advice. What Is a Partition Action? A partition action is a lawsuit that allows co-owners of real property—such as family members, business partners, or investors—to divide or sell the property when they […]
Read article →How do existing mortgage obligations affect the sale and division of proceeds in a partition in New York?
Detailed Answer In New York, co-owners who cannot agree to divide real estate may seek a partition sale under Article 9 of the Real Property Actions and Proceedings Law (RPAPL). When the court orders a sale, it also directs how to apply the sale proceeds. Existing mortgages on the property impact both the sale itself […]
Read article →What legal options exist if co-owners cannot agree on sale logistics or cost sharing in NY?
Detailed Answer When co-owners of real estate in New York cannot agree on sale logistics or how to share costs, New York law provides several legal paths to resolve the dispute. The most common and formal method is a partition action under Article 9 of the Real Property Actions and Proceedings Law (RPAPL). Below is […]
Read article →