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Whether a Trustee can sell property in a trust depends on the terms of the trust. “Maybe” may seem like a common attorney refrain to frustrate clients, but the powers of a Trustee depend either on the terms of the trust, the purpose of the trust and New York’s Estates, Powers and Trusts Law (“EPTL”).

A Medicaid lien on a home must eventually be satisfied. Typically, a Medicaid lien is placed on real property when an individual is receiving benefits through the Medicaid program during his or her lifetime and still owns a primary residence.

The closing is the final step in a real estate sale where the buyer obtains title to the property. The time between an offer’s acceptance and the closing date—evidenced by a deed from the seller or stock certificate for a cooperative apartment –is filled with activity.

In general, when a person dies in New York, that person’s Last Will & Testament must be probated in Surrogate’s Court so that an Executor can be appointed to legally distribute assets. If there is no Will, an administration proceeding will be required and an administrator will be appointed to distribute the decedent’s assets according to New York State intestacy law.

When a co-owner of real property passes away, what happens next depends on how the co-owners took title to the property. Upon the death of a co-owner, it is necessary to review the last deed of record to make this determination.

In general, a person cannot be removed from a deed without his or her consent and signature on a deed. Absent legal action with a court order, such as a foreclosure or a partition action, the only way an owner’s interest in real property can be transferred is by a properly executed, acknowledged and recorded deed conveying that owner’s interest to a new party.

Elder Law attorneys hear this question constantly. Typically, once people reach a certain age there is pressure to transfer assets to their children for unspecified “asset protection” reasons.

A deed is a legal document used to convey title to real property. There are different types of deeds that may be used depending upon the circumstances of the transfer. It is always best to consult an experienced real estate attorney who can prepare and advise which type of deed should be used to meet your specific needs.

A “closing” in legal lingo is the final step in a real estate transaction. A real estate closing is when the purchaser obtains title to the property, evidenced by a deed from the seller to the purchaser or stock in a cooperative apartment.