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My father received a letter from Supreme Court in staten…

Customer Question
My father received a...

My father received a letter from Supreme Court in staten Island about Deutsche Bank about a property my mom had owned in her name alone.

Lawyer's Assistant: Since laws vary from place to place, what state is this in?

She has passed and it seems that the property was sold in foreclosure and there was a deficiency left.My father has since signed his property away to my sisters in an life tendency. Can the bank foreclose on this property

Lawyer's Assistant: Has any paperwork been filed?

Yes with the county clerk for the life tendency

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

This was done about 5 to 7 years ago

Submitted: 4 months ago.Category: Real Estate Law
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Answered in 5 minutes by:
3/9/2018
Real Estate Lawyer: Ray, Lawyer replied 4 months ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,222
Experience: Texas Attorney for 30 years dealing in real estate
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

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Real Estate Lawyer: Ray, Lawyer replied 4 months ago

Not during his lifetime here if it is is his homestead up to these amounts:

You can protect a house, condominium, co-op, or mobile home used as a residence, up to the following values, based on the county in which the property resides:

  • $165,550 in Kings, Queens, New York, Bronx, Richmond, Nassau, Suffolk, Rockland, Westchester and, Putnam counties
  • $137,950 in Dutchess, Albany, Columbia, Orange, Saratoga, and Ulster counties, and
  • $82,775 in all remaining counties.

To learn more, see The New York Homestead Exemption.

You may want to see if they recorded the judgment against the property.If they did it would cloud a resale and once he deceases then they could seek to enforce it against the home and whoever got remainder interest.

I appreciate the chance to help you today.Thanks

If you can positive rate 5 stars it is much appreciated.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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