CLE: Estate Administration of Real Property and Co-Ops in New York
November 13th, 2021
On November 12, 2021, Daniel J. Reiter, Esq. taught 'Estate Administration of Real Property and Co-Ops in New York', a continuing legal education course for attorneys on LawPracticeCLE.com. The program is available on demand.
When a person dies owning real property or shares in a cooperative corporation in New York, a careful analysis is required by the attorney advising the executor, administrator, trustee, or beneficiary. Real property and shares in a co-op can pass in many ways, affecting the rights of parties and informing the procedures required to re-title property. Depending on the circumstances, the right of a fiduciary or beneficiary to administer real property in a decedent’s estate can range from extremely broad (e.g., passing to the residuary estate in a will), to very limited (e.g., a specific devise in a will of real property that needs to be sold to pay estate debts), to non-existent (e.g., property titled as joint tenants with rights of survivorship). The course explores the proper procedures, pitfalls, issues, and necessary analyses required by counsel for fiduciaries and beneficiaries to administer real property and co-ops in a decedent’s estate in New York.
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