Family member A has Family member B as beneficiary in their will. Family member A's financial advisor has Family member C as beneficiary. What entity take precedence upon death of Family member A's death?
Generally, a Will only has power to dispose of assets owned by the decedent after death. Therefore, an asset such as an investment account that has specific instructions designating disposition of the asset upon death controls.
Mortgage has 8 years left and the mortgage holder says, I have to pay all the interest on it, as if, I were to take the 8 years left to pay? I believe this is wrong and possibly illegal? Please advise.
Some mortgages, especially private loans, do have prepayment penalties that require payment of anticipated interest charges. In order to obtain an accurate evaluation of your particular situation, your note and mortage would need to be reviewed.
The estate, citizen in the US, my brother and mother have no permanent residency. My brother signed a contract with a real estate behind my back. Does that contract is even valid provided I’m the one with Letters of Administration issued by the Queens Court. Also, when completing possible sale,... Read more »
You mention being the Executor but then say you have Letters of Administration. Executors are named in probate proceeding where Letters Testamentary are issue pursuant to a will and not in an administration where there is no will. Best to consult with a local attorney in person to assure the...Read more »
No. Pursuant to the Tenant Protection Act of 2019, landlord's are only entitled to hold one month rent as a security deposit. The prepayment of rent is considered a disallowed additional security deposit.
Landlord is extending the store next to mine in the building she owns. I spent a huge amount of money when I bought the store. What terms should I negotiate as the landlord is pushing me to end the lease early? Thank you.
To be assured that the landlord will actually fulfill its obligations under any agreement you reach, a surrender agreement should be drafted and signed. This type of agreement can be drafted to require the landlord put any payment to be made to you into escrow with a third party (usually your...Read more »
I am selling a property and the buyer was supposed to close 2 months ago. i want to call time is of the essence. What is the minimum time i have to give them legally. can it be a week or 2 or it has to be a full month?
It is customary to give 30 days but your contract must be carefully analyzed to assure that a time is of the essence demand is property made and delivered to the purchaser. In addition, arrangements should be made to schedule the closing and have a court reporter present to document that the...Read more »
Based upon your changed circumstances, the landlord may be willing to release you from your lease but is not obligated to. It is likely that the landlord will try to retain any money you have already paid. It may be to your advantage to retain an attorney to negotiation a surrender on your behalf.
I should have gotten a lawyer to represent my interests at the time, but our co-homeowner agreement seems very lopsided now. I don't want to sell or take on another mortgage, but I need some kind of relief from the onerous conditions she keeps imposing. These include limiting my privacy,... Read more »
My Mother abandoned the house and relocated. Stopped paying the mortgage as well. Bought herself a new condo. My family and I are living in the home currently. There's a forebearance on the house, which I haven't found out since October 2020. There's utilities that aren't... Read more »
The landlord's failure to pay the mortgage or taxes on a property, does not automatically constitute an eviction and tenants are generally required to continue to pay the rent to the owner/landlord during a foreclosure case unless a receiver is appointed.
It is not uncommon for a landlord to seek to have real estate brokers show property that is already occupied. Most written leases have provisions that deal with the landlord's rights to show an apartment or house; therefore, you should review yours. New York has guidelines for showing...Read more »
You may commence a nonpayment proceeding. However, due to moratoriums on evictions, should you receive a judgment of possession you will not be able to evict your tenant for nonpayment until after the new year begins.
Hi everyone..I am planning to buy a land (its in the commercial zone) for my 2 kids..I want them to be owner of the property..The problem is they are just kids, 5 and 7 years old..and I divorced long time ago.. I have joint custody with my ex..my kids are not living with me..My ex has the physical... Read more »
The original lease said no subletting without prior landlord approval, but it's a 2 bedroom apartment and I was signing the lease alone (with the intention of subletting the second room) so we agreed via email to amend that term to "There will be no restriction or extra fees on... Read more »
he took 6,400 for rent that I owed thru the pandemic + 3,200 to cover 3mon, he did this without consent but i agreed to the 4k remaining because it seemed fair at the time and he handed me my card, im going through hardships and could've used that money especially being that ny state laws... Read more »
For renters paying on time, and missed/late payments, can the landlord or property management group start reporting in the middle of the lease? If so, what kind of notice has to be given? Do renters need to sign something, or did the application when they ran the applicants credit suffice?
When I call to set up a tour of an apartment, some people ask about my income, credit, number of people living with me etc. Seems unnecessary to have to answer these when I don't even know if I like the unit yet. What is the legality to them pre-screening on the phone?
Similar to how you don't want to waste time answerin unnecessary questions, many landlords don't want to waste time showing apartments to prospective tenants who might not meet the criteria need to rent an apartment. As long as the questions don't run afoul of any existing laws or...Read more »
Although your post doesn't provide enough information to give a definitive answer, it is possible that you and your father's siblings have a claim to the property. Since the property is in Puerto Rico, you should check with a lawyer there.
My landlord communicated thru a 3rd party (my mother) 10.13/14 to vacate my current rental due to roommate conflict 2 months into a 12 month rental. There is no current conflict, but I have found alternative housing. Everything thus far has been verbal and thru my mother. How do I ensure my... Read more »
It isn't a good idea to move forward based on a handshake. If you have a written lease, you may be deemed to remain liable under its terms unless the landlord provides you with a signed, written agreement releasing you and agreeing to refund your security deposit. In addition, you should...Read more »
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