legal agreement after will

What is the name of your state? New York State

My Mother died in the State of New York. She had a will which I have not yet seen. Before her death she did say that she had willed her home to my brother. My brother did not feel this was equitable. My question is my brother is willing to sign a legal document which states that in two years time if he decides to keep the house, he would take a mortgage in order to give me 1/2 the assessed value of the home. (Should this be appraised value, other?) If he decides to sell, he would give me 1/2 the money, minus expenses. We both are aware he has no legal obligation to do either and also feel we should prepare a proper legally binding document. What would you recommend or should I be addressing another forum about this?

Thank you in advance for any help.

Q: What would you recommend or should I be addressing another forum about this?

A: YOU definitely need a lawyer to protect YOUR interests here. If at all possible, have YOUR lawyer draw up the proper documents to make sure this is done correctly to protect YOUR interests.

Thanks for the advice. However time is of the essence as I'm sure you appreciate for several reasons: he may change his mind either now or in a few days, if not in two years, and I do not live close by-it is a major process to make travel arrangements from 5 time zones away. I doubt if I could get an appt with a local New York lawyer as soon as early next week, assuming again that time was of the essence. I had in mind drawing up a document between ourselves, having it witnessed and/or notarized. Even recorded at the court house, if that would be more formal. Is there anything I should be sure to include in this proposed agreement? Also, if we in fact did draw up an agreement between ourselves, etc.etc. would I have a problem getting a lawyer involved at a later time and from a different state?

Thanks for your advice.

Did YOU receive anything from the will?

time is of the essence as I'm sure you appreciate for several reasons: he may change his mind either now or in a few days, if not in two years, and I do not live close by

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All the more reason that the first document you and your brother sign should be valid and legally binding. In the age of the internet, fax, email, and payment by credit card, it is easier to find and use a lawyer long-distance than you may imagine.

I had in mind drawing up a document between ourselves, having it witnessed and/or notarized.

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No offense, but doing this yourself without the advice of an attorney who is familiar with real estate and probate law is just a bad idea.

I understand that you need to strike while the iron is hot, but this is the kind of transaction that needs to be done right the first time.

If your brother is married, he or you will need to consult with a probate attorney to find out if his wife has any rights to the home as a marital asset before or after the brother dies, and if so, then figure this into the equation before the agreement is made, or consult other options like quitclaim deeds, etc. Or have him leave it to you and his wife in his own will with instructions to sell and split the profit.

DANDY DON IN OKLAHOMA ([email protected])

Thanks for the assist you have all given. I am curious to see if there would be on-line forms to fit the legal requirements for this situation. Any suggestions of what forms exactly would fit to get an idea of what I would be dealing with? Otherwise, it seems my only recourse is to contact a lawyer, as you have advised. Does the lawyer need to be a New York State or can I do this over phone or from any state?

The attorney should practice in the state where the real estate is.