You may not be personally liable to pay the mortgage, but if the mortgage payments and not made, and the lender for closers on the real estate, you will lose it just the same.

In New York, you would, by deed, retain a life estate and you we can feed to your grandson a remainder interest in real estate.

Sure, if a lender is foolish enough to lender to that one person.

The lender does not put you on the deed, typically, the sellers’ attorney prepares a deed, the seller executes it and has it acknowledged, you are named as the grantee, and the deed gets recorded. Seemingly, someone is ill advising you.

Whoever may be entitled to the escrow pursuant to the terms of the contract or, alternatively, pursuant to the terms of an executed escrow agreement.

That all depends upon the specific language contained in your contract of sale.

If your contract that you signed was appropriately modified to protect you from having to close with such an issue, then you should not close until everything is properly rectified.

Succinctly, while she may not be personally responsible to pay the taxes and insurance, if the taxes aren’t paid, you both risk losing the real estate through a tax foreclosure, and if the insurance isn’t paid in the house burns down, you both lose as well. So I would say that you are focusing... View More

The answers to your question should be contained in, and governed by, the language in your contract. Have your attorney carefully scrutinize the contract for you and advise you accordingly.

New York will rarely enforce a Binder as a Contract.

You would properly prepare, execute and acknowledge the deed and ancillary transfer forms required by the county clerk and then record them with the county clerk.

It appears that you’re out of luck. You could have declined.

In New York at least, if the deed was properly executed and acknowledged, and was delivered to you, although not get recorded the deed would be considered fully effective for purposes of transferring title to the real estate to you.

If the contract called for repairs to be done, why did you close and tender your purchase proceeds to the seller before the seller properly completed all of the repairs?

The terms of your contract will govern and dictate your obligations.

Not in New York but if a purchaser wants a credit or repairs done, the report is the strongest evidence to support his or her entitlement.

You would be better served to contact your surveyor and your title insurance company who insured your title to the property.

The purpose of title insurance is to guarantee you that the property is “free and clear”.

You should start by asking your mother to cooperate in preparing and executing the deed conveying title to the real estate to you.

The language in the contract should dictate that answer.