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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: 1 month ago.Category: Real Estate Law
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Answered in 5 minutes by:
3/9/2018
Real Estate Lawyer: Ray, Lawyer replied 1 month ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 46,428
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 1 month 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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Category: Real Estate Law
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