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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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MAVERICK. HOW ARE YOU? IT'S RMM

Customer Question

FOR MAVERICK.
HELLO MAVERICK. HOW ARE YOU? IT'S RMM AGAIN.MY DAD RENOUNCED A CERTAIN PROPERTY FROM MY MOTHERS SIDE IN THE WILL / TRUST AFTER SHE DIED TO MY SISTERS. HOWEVER, HE IS STILL A TRUSTEE OF THIS PROPERTY
, " LIFE TENANT "OF THE PROPERTY AND IS ACCORDING TO THE WILL / TRUST SUPPOSED TO RECEIVE THE RENTAL INCOME FROM THE PROPERTY. HE ALSO PAYS ALL THE BILLS.
AFTER HE DIES, MY SISTERS TAKE FULL POSSESSION OF THE PROPERTY. HOWEVER, WHAT HAPPENS TO THE LEASES MY DAD SIGNS WITH ANY TENANTS WHO ARE THERE? AND IF THE LEASE STAYS VALID, HOW LONG ( HOW MANY YEARS) CAN THE LEASE BE? DOES THE LEASE HAVE TO BE AT MARKET RATE OR WHATEVER HE DECIDED. ALSO, CAN MY SISTERS SELL THE HOUSE TO CIRCUMVENT THE LEASE TERM? ARE THE NEW OWNERS BOUND BY THE LEASE? THIS IS IN NEW YORK. GOOD LUCK WITH THIS PROBLEM! LOL.
Submitted: 7 months ago.
Category: Estate Law
Expert:  Maverick replied 7 months ago.
Hello Robert: There are a number of issues that need to be addressed here before we can arrive at any answers. I would suggest that we do this through JA's premium services phone call option which is as low as $59.00. If you would like to go forward with that, please look on your end of the portal for a button to initiate the call.
Expert:  Maverick replied 7 months ago.
See option suggested above. Welcome to Just Answer (“JA”)! My name is Maverick. Please note that: (A) The information we provide is general information. No attorney-client relationship or privilege is formed by communicating with me. If you want legal advice, you must consult with a local attorney in person before acting or deciding not to act based on any information given here; (B) Experts answer questions based on the honor system. When I feel that I have provided you with a complete answer, I will ask for you to assign a feedback rating so that JA will compensate me for my time; and (C) You should not be concerned about any short delays between your questions and my replies. Please know that I answer most questions within the hour if I am signed on. If I am not signed on, then I still make every attempt to respond within 24 hours. Thank you for taking the time to understand how this site works. By continuing, you confirm that you understand and agree to these terms.
Customer: replied 7 months ago.
With pleasure. I will call later.
Expert:  Maverick replied 7 months ago.
Okay....
Customer: replied 7 months ago.
Hello maverick. I'm sorry but I have been busy. A lot of stuff going on....my dad did a variety of reckless arrogant things in relation to his 5 home estate that have come home to roost. Some matters though are not his fault or just partially. For instance, usaa insurance putting erroneous claims on his record ( s.o.bs. Won't take them off) and dropping him as an insured, making it difficult to impossible to insure our rental business or sell a home without insurance. We may need more than one phone conversation. Some stuff I will handle on my own. Other matters have to be handled with lawyers. At the very least I need to know I hired a lawyer/s who have excellent knowledge and handling the matters appropriately with your guidance. Have to go to court tomorrow morning and then prob meet with dad's r.e. Attorney regarding the sale contract signing of one of the homes so I don't know if I will be able to call tomorrow. However I will do so asap. Thank u so much for ur help. Sincerely, rmm
Expert:  Maverick replied 7 months ago.
Your welcome...