The first thing to determine is whether or not she left a will. If she did, there will be an Executor designated. Reach out to the Executor and alert her. That person will be responsible for carrying out the instructions in the will, paying creditors, and filing for estate taxes. If she did not leave a will, there is a priority list of relatives that can apply to Surrogate Court for Letters of Administration. Whomever the Court grants these Letters will act as the Executor of the estate.
There is a $200 charge to file the application with the Division of Corporations. There is an advertising fee comprised of six weeks of a in two periodicals assigned by the local County Clerk, and there is the attorney fee which primarily counts for administration and drafting the operating agreement.
In New York it is illegal to rent out the basement of a single family home. Therefore, one can not bring any action concerning this relationship to Landlord Tenant court. The correct venue for this type of action is a holdover in Supreme Court or an Ejectment proceeding in the same Court.
If the house goes in a short sale, you will not owe the bank anything, and the debt is wiped clean. On the other hand, in a foreclosure, the bank or lending institution may still recover the difference in the price the house sold for and what you owed on it in a deficiency judgment.
To avoid allegations of self- dealing or creating a business for the sole purpose of shielding your assets. If someone is suing you for grazing his arm on the subway, and you can’t afford to pay the judgment from your personal assets, the court can still go after your corporate assets if you don’t follow the formalities. This is commonly referred to as piercing the corporate veil.
Possibly. The parent child relationship must pass two tests: 1) The marriage between the parents must have occurred before the child turned 18 and 2) The child must be under 21 years of age.