NYC is very pro plaintiff so a simple slip and fall turned into a very large settlement(obviously can't get into numbers).

Therefore, the person ends up paying the transfer tax once at settlement and AGAIN when the property is transferred to the LLC or S-Corp"Thoughts?

I've been in the cashflow business for 2 years now, and in the market for some more mobile home notes, real estate notes, annuities, structured settlements, commercial notes, and business notes.

@Robert Cook I am NOT an attorney, however all I do is CA probate related transactions for the last 25+ years.You are asking a number of questions and its apparent you are only exploring your family's options.The existing mortgage (likely still in Dad's name) may not be accelerated due to transfer to a direct lineal heir, so any one or more of your siblings may accept distribution of with much worry about the loan requiring payoff.As for the inheritance, the heirs are entitled to the NET equity in all assets after settlement of the estate debts.

When contacted by an attorney, it's best to pass it on to your insurance and see if they'll defend you or negotiate a settlement.

They will want to know who it is before settlement if they do.

If you have a problem with the tenant you can offer him his money back or some sort of other settlement to avoid legalities all together.Do not touch any of the interest until the entire term of the lease is complete.  

Haynes - I'd like to buy your real estate that has a code violationHello - excuse the intrusion - I am interested in making money off of your property - will you sell it to me for nothing down, take back some owner financing and give me immediate possession with a delayed settlement?

So, my lawyer calls me up with a settlement that was not great but good enough.

Lenders have liability in these matters, they MAY NOTY discuss any confidential loan information with anyone who is not a party to the note unless a. they are selling the note to a qualified registered lender/buyer, b. the borrower has passed and they will be assisting in an estate settlement as would be directed by the court, c. if directed by any court to disclose information, such as in bankruptcy, or d. the borrower has authorized disclosure as it relates to a specific purpose, lastly, to an attorney representing the borrower.