Questions Concering an Estate

[nightilldawn]

What is the name of your state?What is the name of your state? Nevada

My uncle passed away last September and i recieved a letter from the Probate lawyer saying that the earliest the estate will be distributed will be August 27th. My uncle lived in a co-op in Manhatten New York, right by the Empire State Building. The executor is my cousin ( he lives in Arizona ) and I live in Nevada. My uncle lived in New York so i was asking for the laws pertaining to New York State. My cousin found a buyer for the co-op but the association is holding up the application. Each month that the co-op doesn't sell, he has to pay the association the monthly fee which is coming out of the estate. It's been several months. My cousin will not put another ad for another buyer until the association gives him a yes or no answer on the buyer he has already. I believe he is procrastinating for time. His father was the lien holder for my uncle's co-op and when he passed away, my uncle didn't leave the co-op back to him. He told my cousin to take as long as he wants to sell the co-op, which i think is what he is doing. My question here is : How long can my cousin play this game of not selling the co-op? According to several sources close to me, they plan on not selling and have the association eat up all the money so no one can get their share of the estate. My cousin does not want to discuss this with anyone involved, and all i keep getting is heartache from his father who keeps telling me i'm not getting one red cent of that money cause it was his money. Since the estate cannot be distributed no earlier than August 27th, how long does it usually take for something like this to go on? Can it last years? Someone told me there is a limitation on how long he can withold the estate proceedings. I was hoping someone here can help me so i can get this matter resolved. Otherwise i would need to fly down to New York ( which is costly ) in order to get this information. Thank you in advance for anything you can offer to help me.

Nightilldawn

 

[alanalbee]

Dear nighttilldawn,

Manhattan (one of the five boroughs) is referred to as "New York County" and
one way to start getting answers is to contact the Surrogate's Court in NY County. (Probate Court is one part of Surrogate's Court). The phone number for the Chief Clerk of New York County's Surrogate's Court is (212)374-8232 and Jana Cohn is the Deputy Chief Clerk.

Before you call, write down your question(s) and don't bombard them with background information. They will not give you legal advice but will be helpful if you ask specific questions and DON'T RAMBLE! I lived in Manhattan, moved to Washington State and am dealing with Surrogate's Court in Brooklyn, NY. The Chief Clerk there has been very helpful to me but I am mindful of not imposing myself on him.

 

[Dandy Don]

You are being overly worried about a matter that you don't need to be worried about.

It can take a certain amount of time in New York before a property can be sold. So what--that expense is not a major expense that significantly affects the beneficiary's interest--it is just a normal expense that the estate or trust must bear as a cost of doing business. Co-op boards are notoriously slow, so quit blaming someone else for the co-ops slowness to act, and hope that they do eventually approve it so the estate/trust can benefit.

New York has so many probate cases that it is not unreasonable for a long time to pass before your probate case can be resolved.

 

[BlondiePB]

Co-op boards being notoriously slow is an understatement. That is where the problem lies, nightilldawn.

 

[nightilldawn]

Thanks

Thank you all for your advice. I didn't understand how co-op associations take so long under these types of circumstances. I also thought that they took more than one application at a time. From what i understand about this situation is that the people who are awaiting an answer do not have a job secure yet, which is holding up the process. If they already know they will be declined, why don't they just let my cousin put it back on the market, instead of having him pay the monthly asscociation dues out of the estate? I know its not easy for him, but i'm hearing all kinds of different stories left and right and its difficult to know whom to believe. My cousin's father ( who was the lien holder on the co-op ) is pissed beyond belief that my uncle who passed away did not leave it to him. Alot of bad blood since this has happened. My cousin already paid his father what was owed to him, but he thinks that the co-op should be his, and thats not how my uncle had it written down in his will. Its been a real mess. Thanks again for the advice, i will look into things a little differently now.