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My husband and I owned a 2 family house with s parents. All…

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Hi my husband and I...
Hi my husband and I owned a 2 family house with his parents. All of us on the deed. Both parents have died. Supposetly therenis a wull no one can find . She left my sister inlaw executor of this will which neither me or y husband saw. My If this will can't be found how does the assest get divided up. DO WE (MY HUSBAND AND I FILE PROBATE PAPER. They want my motherinlaws half. That means we get nothing of the estate. We paid for the other half plus put put 50,00.00 into it. my mother in law died 2yrs ago, myfather in law Oct.2015. Thank You
Submitted: 2 years ago.Category: Estate Law
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Answered in 4 minutes by:
2/24/2016
Estate Lawyer: Barrister, Attorney replied 2 years ago
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 43,074
Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Can you tell me how the deed reads....does it say you are all "joint tenants" or "tenants in common" on the actual deed?

.

.

thanks

Barrister

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Customer reply replied 2 years ago
Hi it doesn't say either. What is says is the following.....Michael Colorundo and Phyllis Colorundo, his wifeboth reside at*****Ridgewood NY and John A Colorundo and his wife Irene Colorundoboth reside at*****, Bklyn NY,party of the second part etc . Gives title number and peoples name who sold us the house ...Mariano Bevilacqua and Anna Bevilacqua to Michael Colorundo and Phyllis Colorundo. It also says Bargain and Sale Deeds Title 107-00-601 First American Title Insurance Company of NY. That's all I see. Thank You
Estate Lawyer: Barrister, Attorney replied 2 years ago

Ok, if it doesn't specifically say '"as joint tenants with right of survivorship" then you are all 25% owners of the property and each of your 25% interests would pass down through your estate to your heirs once someone passes.

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So as of right now, his parent's estates each own 25% and you and husband own 50%.

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That means that someone will have to file probate cases for both father and mother to settle their estates and if there was no will, then state intestacy laws control.

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That means that when mother in law died, her husband would have inherited the first $50K of her estate and half of anything over that. The children split half of anything over $50K.

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Then when father passed, the children split father's estate evenly.

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So after all is said and done, the children split parent's estates evenly meaning that you and husband will end up with 75% of the ownership of the house and the sibling will get 25%.

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But someone has to go file a probate case to settle both estates before the house and any other assets can be tranferred to husband and sibling.

.

.

thanks

Barrister

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Customer reply replied 2 years ago
Hi I sent the info I had on the deed. Is there something else you need because I don't see a response to anything. Thank You Phyllis
Estate Lawyer: Barrister, Attorney replied 2 years ago

If you aren't able to see my post above your last one, I will copy and paste it again below:

.

Ok, if it doesn't specifically say '"as joint tenants with right of survivorship" then you are all 25% owners of the property and each of your 25% interests would pass down through your estate to your heirs once someone passes.

.

So as of right now, his parent's estates each own 25% and you and husband own 50%.

.

That means that someone will have to file probate cases for both father and mother to settle their estates and if there was no will, then state intestacy laws control.

.

That means that when mother in law died, her husband would have inherited the first $50K of her estate and half of anything over that. The children split half of anything over $50K.

.

Then when father passed, the children split father's estate evenly.

.

So after all is said and done, the children split parent's estates evenly meaning that you and husband will end up with 75% of the ownership of the house and the sibling will get 25%.

.

But someone has to go file a probate case to settle both estates before the house and any other assets can be tranferred to husband and sibling.

.

.

thanks

Barrister

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