What is the name of your state (only U.S. law)? new york
hi,
i have a few separate property premarital rent stab questions, as well as succession question, and would greatly appreciate pro advisements, & thank everyone in advance.
my niece resides in new york city with husband in his rent stab apt of 30+ years.
previous to their 2004 n.y. marriage they had their n.y. attorneys prepare their premarital agreement. it stated her husband would be solely responsible for any and all financial obligations relative to his rent stabilized apartment. they both also included their employment income as separate property, as well as retirement funds, annuities, health medical expenses, credit card obligations, and certain bank accounts, etc . (this was a third marriage for him and a second marriage for her, and they both have children and other items they wished fully protected and included in their premarital & separate property agreement. they also updated their wills to reflect they would not seek inheritance rights in the event either of them died, and all their holdings would go to their children (from previous marriages) uncontested.
niece also had separate joint co-operative apartment property she purchased with her dad many years previous to her 2004 marriage, and she also resided there with her dad until she married her husband in 2004 and moved into his rent stab apt. she had already transferred her shares which were jt ten wros into her father's name and he is recorded as being the sole shareholder of the co-op apt., but she still pays all financial obligations and will continue to do so, as he is disabled, ill, and elderly. she and her dad have jt.wros bank accounts also listed as part of her premarital separate property.
previous to their 2004 marriage the managing agent told them both of their names needed to be on the rent stabilized lease and also requested a copy of their 2004 n.y. marriage certificate. my niece told them they had a premarital separate property agreement which stated any holdings each of them had previous to their marriage would be separate property including separate incomes, financial holdings, etc., and these would not be considered marital property, and her husband told them that their premarital states he is legally solely responsible for paying everything for his rent stabilized apartment, and the same applied for her separate property which she is solely responsible for and legally entitled to. they both further told the managing agent the only time marital assets would be marital and not separate property is when they do not appear within their n.y. premarital agreement.
the managing agent said the premarital separate property document had no bearing regarding the rent stabilized apt., her husband resides in for over 30 years, and in order to allow my niece to also occupy the apt, her name had to actually appear on the lease along side of his when the lease came up for renewal in 2005, and she also had to sign the lease. my niece asked why can't only my husband's name continue to appear on the rent stab., renewal leases and my name appear in the area regarding relationship as wife? the managing agent said dhcr mandates both names of the married couple must appear on the top portion of the lease, in order to allow the wife to also occupy the rent stab apt. but the managing agent also said this does not make the wife legally responsible to pay any rent on the apt unless God forbid the husband passed away, and the wife wanted succession rights to the rent stab apt. since she and her husband have a n.y. premarital agreement which states anything pertaining to the financial upkeep of the rent stab apt is the husband's sole financial responsibility. the managing agent said it was only a formality and do not be concerned, just list both names when the rent stab lease renewal comes up and you each must sign the renewal lease. we don't know if this is legal, true, or not, and the managing agent who had this conversation with them has since passed away, but since their marriage in 2004 both names appear on the rent stab renewal leases as a result of what the managing agent instructed were requirements. can someone please advise, and thanks in advance.
question please: niece's husband will eventually be eligible for scrie since his firm downsized and shortly after he became ill, and now has a yearly income which qualifies him under scrie eligibility. they need to also know if she should not have her name placed alongside of his and on the upcoming 2010 renewal lease as well as any future renewal leases? please kindly advise.
also when filling out the dept. of finance scrie form should he also list her ss# even though their premarital states he is solely legally responsible for anything relative to the financial obligations of his 30+ years of being a rent stabilized tenant? also should he add the fact that a premarital was executed in 2004 and states he is the only one legally responsible for the rent payments and anything else pertaining to his rent stab apt? please kindly advise.
in the event of God forbid her husband unexpectedly passes she needs to know if she can remain under succession law even if her name is not along side his name on the lease at the time he passes, but only mentioned within the lease as her residing there as his wife.? (she realizes she would have to probably submit documents to dhcr). kindly please advise...
also should she inherit her father's co-op would she be forced out of her succession rent stab apartment and be forced to move into the co-op or can she rent or sell it, and still remain in her rent stab apartment? (of course if her income were to exceed rent stab scrie guidelines she realizes she would be upgraded to a higher rent stab increase and removed from scrie). kindly please advise.
in all probability her dad may be forced to sell his co-op to go into a nursing care facility soon, or if he unexpectedly passes she will inherit the co-op, as she and her father are executrix/executor of each others estates. btw her husband was adamant and instructed his attorney to also include a separate clause where as in the event of her death or his father-in-law's passing he would not contest either will, and was forfeiting all legal rights of claiming any inheritances, and this was also prepared at the time of the premarital agreement, as was also updated wills for the niece, her husband and her dad. (please know my niece has expensive impeccable taste, and has completely furnished his rent stab apt with her own funds., and stated in their premarital and her will in the event of her death her husband is to keep/inherit all the contents of the rent stabilized apartment).
thanks in advance for any and all replies, as always they are greatly appreciated.What is the name of your state (only U.S. law)?
hi,
i have a few separate property premarital rent stab questions, as well as succession question, and would greatly appreciate pro advisements, & thank everyone in advance.
my niece resides in new york city with husband in his rent stab apt of 30+ years.
previous to their 2004 n.y. marriage they had their n.y. attorneys prepare their premarital agreement. it stated her husband would be solely responsible for any and all financial obligations relative to his rent stabilized apartment. they both also included their employment income as separate property, as well as retirement funds, annuities, health medical expenses, credit card obligations, and certain bank accounts, etc . (this was a third marriage for him and a second marriage for her, and they both have children and other items they wished fully protected and included in their premarital & separate property agreement. they also updated their wills to reflect they would not seek inheritance rights in the event either of them died, and all their holdings would go to their children (from previous marriages) uncontested.
niece also had separate joint co-operative apartment property she purchased with her dad many years previous to her 2004 marriage, and she also resided there with her dad until she married her husband in 2004 and moved into his rent stab apt. she had already transferred her shares which were jt ten wros into her father's name and he is recorded as being the sole shareholder of the co-op apt., but she still pays all financial obligations and will continue to do so, as he is disabled, ill, and elderly. she and her dad have jt.wros bank accounts also listed as part of her premarital separate property.
previous to their 2004 marriage the managing agent told them both of their names needed to be on the rent stabilized lease and also requested a copy of their 2004 n.y. marriage certificate. my niece told them they had a premarital separate property agreement which stated any holdings each of them had previous to their marriage would be separate property including separate incomes, financial holdings, etc., and these would not be considered marital property, and her husband told them that their premarital states he is legally solely responsible for paying everything for his rent stabilized apartment, and the same applied for her separate property which she is solely responsible for and legally entitled to. they both further told the managing agent the only time marital assets would be marital and not separate property is when they do not appear within their n.y. premarital agreement.
the managing agent said the premarital separate property document had no bearing regarding the rent stabilized apt., her husband resides in for over 30 years, and in order to allow my niece to also occupy the apt, her name had to actually appear on the lease along side of his when the lease came up for renewal in 2005, and she also had to sign the lease. my niece asked why can't only my husband's name continue to appear on the rent stab., renewal leases and my name appear in the area regarding relationship as wife? the managing agent said dhcr mandates both names of the married couple must appear on the top portion of the lease, in order to allow the wife to also occupy the rent stab apt. but the managing agent also said this does not make the wife legally responsible to pay any rent on the apt unless God forbid the husband passed away, and the wife wanted succession rights to the rent stab apt. since she and her husband have a n.y. premarital agreement which states anything pertaining to the financial upkeep of the rent stab apt is the husband's sole financial responsibility. the managing agent said it was only a formality and do not be concerned, just list both names when the rent stab lease renewal comes up and you each must sign the renewal lease. we don't know if this is legal, true, or not, and the managing agent who had this conversation with them has since passed away, but since their marriage in 2004 both names appear on the rent stab renewal leases as a result of what the managing agent instructed were requirements. can someone please advise, and thanks in advance.
question please: niece's husband will eventually be eligible for scrie since his firm downsized and shortly after he became ill, and now has a yearly income which qualifies him under scrie eligibility. they need to also know if she should not have her name placed alongside of his and on the upcoming 2010 renewal lease as well as any future renewal leases? please kindly advise.
also when filling out the dept. of finance scrie form should he also list her ss# even though their premarital states he is solely legally responsible for anything relative to the financial obligations of his 30+ years of being a rent stabilized tenant? also should he add the fact that a premarital was executed in 2004 and states he is the only one legally responsible for the rent payments and anything else pertaining to his rent stab apt? please kindly advise.
in the event of God forbid her husband unexpectedly passes she needs to know if she can remain under succession law even if her name is not along side his name on the lease at the time he passes, but only mentioned within the lease as her residing there as his wife.? (she realizes she would have to probably submit documents to dhcr). kindly please advise...
also should she inherit her father's co-op would she be forced out of her succession rent stab apartment and be forced to move into the co-op or can she rent or sell it, and still remain in her rent stab apartment? (of course if her income were to exceed rent stab scrie guidelines she realizes she would be upgraded to a higher rent stab increase and removed from scrie). kindly please advise.
in all probability her dad may be forced to sell his co-op to go into a nursing care facility soon, or if he unexpectedly passes she will inherit the co-op, as she and her father are executrix/executor of each others estates. btw her husband was adamant and instructed his attorney to also include a separate clause where as in the event of her death or his father-in-law's passing he would not contest either will, and was forfeiting all legal rights of claiming any inheritances, and this was also prepared at the time of the premarital agreement, as was also updated wills for the niece, her husband and her dad. (please know my niece has expensive impeccable taste, and has completely furnished his rent stab apt with her own funds., and stated in their premarital and her will in the event of her death her husband is to keep/inherit all the contents of the rent stabilized apartment).
thanks in advance for any and all replies, as always they are greatly appreciated.What is the name of your state (only U.S. law)?