Mar 8, 2019

And on the Third Day…

land disputes

Dry land has been around—well, according to the Bible,  since the third day of the Creation.  So it is not surprising that land disputes relating to ownership of real property often have their “Genesis”  in facts, circumstances, and documents with an ancient pedigree.  A recent case, in which the Town of Southampton and the Freeholder Trustees sued for a judgment declaring them to be the sole owners of real estate on the shore of Moriches Bay, Suffolk County, reached and searched back to a decree promulgated in 1686 and a statute enacted in 1818. The case arose out of a… Read more

Feb 15, 2007

Transfer on Death Designation

Last Will and Testament Form

A provision was recently added to New York’s Estates, Powers and Trusts Law which may affect the ownership of cooperative apartments.  Under the revised statute, transfer on death (“TOD”) designations may now be used for securities in New York State.  These permit the owner of stock to designate a beneficiary on the stock registration so, that upon the death of the stockholder, the stock automatically transfers to the designated beneficiary without the expense and delay of a probate proceeding.  The same result could be obtained previously by designating an individual as a “joint tenant”, but a joint tenant is a… Read more