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When there is more than one owner on a deed, the owners have co-ownership of the title. There are three categories of co-ownership. The first category is joint tenants with the right of survivorship. If one owner dies, the survivor or survivors remain undivided right in the property without the need to do surrogate court procedure or subject to estate tax of the deceased owner. Usually close family members such as parents and children may want to select this category of

In New York State, both the sellers and purchasers are required to attend the closing in person. In the event that the party is unable to attend the closing in person, he/she (the principal) can do a power of attorney to authorize an agent to sign the closing documents on behalf of the absent party. The agent shall be a competent person who has appropriate age and competence to sign the legal documents. The principal shall have the power to conduct

In the past decades, the value of real estate all over the United States has been increasing continuously. More and more people invest in the real estate market, either for a primary residence or for investment. Fengli Guo, Esq. has been practicing law with a focus on real estate and business transactions in New York in 2002 and won great trust and reputation from clients with an experience of over 5,000 closings. Real estate and business transactions involve very complicated